FINRA

The MSRB is hoping that new guidelines will encourage more conversation between its staff and the broker-dealers and muni advisors it regulates.

FINRA examiners alleged Mesirow violated disclosure and supervisory rules.

Dealer firms are trying to comply with newer rules like markup disclosure, while regulators are finding some problems and working to communicate more clearly.

The top executives of FINRA, the MSRB, and some industry groups received total compensation of more than $1 million, The Bond Buyer’s latest survey of compensation levels at 23 municipal market-related groups shows.

After a bumpy but overall successful launch of markup disclosure, the muni industry looks ahead to regulatory scrutiny and finding ways to use the new data.

Deutsche Bank Securities and Central States Capital Markets agreed to settle with FINRA for a combined $80,000.

Ex-Morgan Stanley branch manager Terry Lee McCoy failed to act on several "red flags" that the accounts of an elderly and incapacitated customer were being abused, FINRA said.

Early returns indicate there have been some problems but firms seem to be working through them in complying with the new markup rules, regulators and industry officials said Tuesday.

The proposal would establish a standalone rule governing transactions in discretionary accounts, something the board hasn't had in more than 30 years.

FINRA found that Gates Capital and three of its employees breached several MSRB rules, some related to role-switching from advisor to underwriter on the same transaction.