The Municipal Securities Rulemaking Board proposed changes to its Rule G-8 on books and records yesterday that would require dealers to maintain records related to municipal auction-rate securities and variable-rate demand obligations.

The rule change, which the board submitted to the Securities and Exchange Commission, will require dealers to retain for three years records that would show both that they had an obligation to submit ARS and VRDO information to the MSRB and that the information they submitted was accurate.

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