WASHINGTON — A dealer group blasted recent criticism of underwriters Wednesday, saying it is unaware of broker-dealers urging municipal issuers not to engage financial advisors, or only to work with dealer-FAs.

In a letter to Securities and Exchange Commission member Elisse Walter, Michael Nicholas, the chief executive officer of the Bond Dealers of America, objected to “the unfounded view that underwriters take advantage of and mislead their clients.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.