WASHINGTON — The Municipal Securities Rulemaking Board is citing almost a half-dozen enforcement actions against municipal securities firms that highlight the need for its new Rule G-17 guidance, which clarifies and expands on underwriters’ fair-dealing obligations to state and local issuers.

The Securities and Exchange Commission and Financial Industry Regulatory Authority enforcement actions, outlined in an MSRB document, took place during the last three years and include firms’ failure to disclose third-party payments or conflicts of interest to issuers, among other things.

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