BDA

On Tuesday, the Municipal Securities Rulemaking Board filed a proposal with the SEC to changing Rule G-3, which governs continuing education requirements.

A key distinction commenters raised is the difference between ESG-related credit risk disclosures and non-credit risk ESG information about the issuer or the bonds.

The proposal may be less feasible for certain types of trades, market participants said, especially larger trades.

"It seems that munis are on the outside looking in, but we are hopeful," said Brett Bolton, Vice President and Head of Government and Industry Relations at Bond Dealers of America.

Bond Dealers of America's Brett Bolton sits down with Kyle Glazier to discuss the group's latest advocacy efforts and the outlook for legislation critical for the municipal market. (18 minutes)

Joe Biden's comments about splitting up Build Back Better into separate bills represents a new opportunity for muni advocates to push for the inclusion of key priorities.

The Internal Revenue Service and Department of the Treasury have released final guidance on the transition away from Libor, designating SOFR as an alternative rate.

Mark Zehner has retired from his position as deputy chief of the SEC's public finance abuse unit, a position that Rebecca Olsen, former director of the Office of Municipal Securities, has taken over.

This Fixed-Income Pricing and Valuation (FIPV) Division will use BDA resources to represent professionals who price and value securities portfolios.

The bipartisan infrastructure bill passed over the weekend, offering munis an indirect win by providing an influx of funds to state and local authorities.

The application period for this significant role is slated to close Friday.

Friendly market provisions, including a direct-pay bond program and restoration of advance refundings, will head to full House after approval by Ways and Means Committee.

SEC Chairman Gary Gensler signaled he wants to bring greater efficiency and transparency to municipal bond market

The proposed changes would reduce the volume of disclosures dealers have to make to customers each year.

Cheered by the inclusion of key muni market priorities in tax legislation unveiled over the weekend, muni market advocates must now battle to keep them there.

While the bipartisan deal includes some helpful provisions, it does not contain any of the top priorities of municipal bond market advocates.

Current rules require disclosures to customers who probably do not need them, industry lobbying groups argue.

Giroux brings to the MSRB her experience advocating on behalf of both broker-dealers and bond lawyers.

The proposed changes are part of the MSRB's ongoing retrospective rule review.

Public finance groups hope that the Biden administration will show the same support for tax-exempt bonds that House Democrats do.