WASHINGTON - The Securities Industry and Financial Markets Association is concerned that rule changes drafted by the Municipal Securities Rulemaking Board that would speed up deadlines for syndicate managers to disburse profits to other syndicate members would be too burdensome.

But First Southwest Co. is urging the MSRB to adopt the changes as drafted to the board's Rule G-11 on uniform practices and to then conduct a study of how the industry should better structure syndicates to protect participating underwriters from the effects of a bankruptcy or similar proceeding of another syndicate member.

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.