WASHINGTON — The Municipal Securities Rulemaking Board yesterday filed a new rule with the Securities and Exchange Commission that would allow it to collect a flat $60 “development fee” on examinations taken by municipal securities representatives and principals, as well as muni fund securities “limited principals,” to demonstrate competence in their areas of work.

“The proposed MSRB development fee is intended to partially cover costs incurred to develop and implement the examinations, costs associated with monitoring the examinations for effectiveness, and costs associated with updating the examinations’ content and questions,” the board said in its filing with the SEC.

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.