WASHINGTON - The Regional Bond Dealers Association has launched an attack on what it calls the CUSIP Service Bureau's "aggressive campaign to extract licensing fees" from muni market participants, claiming the bureau is trying to "prohibit, restrict and exploit" the use of Cusips, which are purchased by issuers and required by the market.

The RBDA yesterday sent a letter to the Securities and Exchange Commission urging it, at a minimum, to permit dealers to use Cusips that are required by regulators, exchanges or clearing and settlement utilities without having to obtain approval from, or pay licensing fees to, the CUSIP bureau, which is operated by Standard & Poor's under the direction of the American Bankers Association.

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.