WASHINGTON —Broker-dealer groups blasted a Municipal Securities Rulemaking Board proposal to collect an annual $300-per-person fee from municipal advisors, saying the assessment would penalize dealers and dealer FAs who already bear the brunt of funding the board’s operations.

The remarks came in comment letters filed with the Securities and Exchange Commission Monday. The MSRB is seeking SEC approval for a plan to begin collecting the $300 fee this fall. Last month, the board proposed a rule change seeking approval of the $300 fee, dubbed an “interim municipal advisor assessment,” as well as a new Rule A-11 and a new Form A-11, which would be used in connection with the fee.

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