WASHINGTON — The Municipal Securities Rulemaking Board is seeking to hire a deputy general counsel and an assistant general counsel to work in its market regulation division.

The new positions are needed to help the board tackle ongoing and new regulatory initiatives and to explore alternatives to rules, said MSRB general counsel Gary Goldsholle.

“We have a lot of things we are engaged in and we want to make sure we have the appropriate resources to address all of these in a timely and comprehensive manner,” Goldsholle said.

Goldsholle added, “There is heightened focus on looking for alternatives [to rulemaking] and addressing the implications of rulemaking.”

The deputy general counsel position will report to Goldsholle and the assistant general counsel will report to deputy general counsel Lawrence Sandor.

The deputy general counsel position will focus on rulemaking and regulatory policy, and should have knowledge of financial regulations and fixed-income markets, preferably of the muni market. In addition, candidates should be able to find solutions that address divergent opinions and have strong editing, writing and public speaking skills, Goldsholle said.

The assistant general counsel will focus on professional qualifications, such as the MSRB’s exams for securities principals and qualifications for municipal advisors, which are expected to be issued after the Securities and Exchange Commission finalizes its MA definition. The SEC has said the definition will be completed early this year.

Goldsholle said the new staffers will help tackle a host of projects, including the board’s review of the effectiveness and efficiency of rules in its roughly 300-page rule book.

The board has said it wants to harmonize some rules, like suitability rules, with those of other agencies, such as the Financial Industry Regulatory Authority.

It is also considering revising Rule G-17 on fair dealing. That effort could include eliminating some interpretive notices or incorporate notices into new rules, MSRB board chair Jay Goldstone said earlier this year.

Goldsholle noted that the board is also exploring rule changes that would require dealers to report trades in less than the current 15-minute deadline, and is replacing its Real-time Transaction Reporting System with a new, more advanced “Central Transparency Platform.”

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