WASHINGTON — Responding to a move by the Financial Industry Regulatory Authority to limit the basic broker-dealer licensing exam to customer sales, the Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission for permission to require market participants who engage in muni underwriting, trading, and other non-sales activities to take the board’s muni qualifications exam, according to a proposal filed with the SEC Tuesday.

The MSRB’s move, as outlined in an SEC filing Tuesday, comes a week after FINRA asked the SEC for permission to pare the muni focus on the Series 7 exam, the qualifications test for general securities representatives.

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