BDA

Some market participants worry about the viability of a key muni advocacy talking point if enough midsize issuers begin to embrace the taxable market.

Dealer groups believe that some sections of the proposed amended guidance such as complex financing and disclosure standards would add complexity to the rule.

The Bond Dealers of America is forming an Affiliate Member Division to bring a lobbyist voice to smaller firms.

Issuers and non-dealer muni advisors support the existing prohibition, while dealers asked the MSRB to provide some flexibility.

Market participants want someone with a deep industry knowledge as the MSRB is set to begin its search for a new president.

The evolution of muni advocacy has been in progression for years, though it was further galvanized by the shock and dismay at the 2017 tax reform.

Her announcement comes at a time of scrutiny from lawmakers and the SEC.

The Chicago-based firm adds to the dealer group's voice as it pushes for muni policy measures that have been stalled for years.

In late May, the MSRB enhanced its search functionality on its Electronic Municipal Market Access site (EMMA) by implementing an algorithm that allows for predictive searching.

Some stakeholders say the CUSIP requirement for MAs is needed, while other say it is burdensome.

Municipal market participants are increasingly skeptical that an infrastructure bill will pass this year.

Data from a Municipal Securities Rulemaking Board report released Wednesday showed a continuing decline in the number of dealers.

Bond Dealers of America members said they have spent an average of more than $17 million on regulatory costs since the beginning of the 2008 credit crisis.

“State, local governments and their constituents need Congressional help," BDA said in new testimony.

The MSRB plans to roll out changes to simplify the submission process on EMMA.

Longtime muni lobbyist Michael Decker will now have a working relationship with Bond Dealers of America.

The Bond Dealers of America pushed for legislative support of the muni market during a Capitol Hill briefing Tuesday.

The groups believe the MSRB cast too wide a net to non-syndicate dealers in its January draft guidance.

All four industry groups that submitted comments on the proposed rule requested a continuation of the practice that allows remarketing reissuances at a premium.

Michael Decker has been managing director and co-head of municipal securities at SIFMA since October 2009.