GFOA

The rule will take effect 30 days after publication in the Federal Register, which usually takes about three business days.

GFOA had a previous president from the higher education sector, but Stone is the first from the K through 12 sphere.

Steven Gibson became president last year and is the deputy city manager in Rock Hill, South Carolina.

Municipal Securities Rulemaking Board Chair Gary Hall said the MSRB will examine governance rules such as the time period between when individuals leave their industry jobs and when they are allowed to become public board members.

GFOA members also will elect five new members-at-large.

The positive side is the bipartisan legislation for reinstatement introduced by 10 House lawmakers last week has a high possibility of being included in any infrastructure legislation that passes that chamber.

Issuers are concerned that the Municipal Securities Rulemaking Board reopening discussion of Rule G-23 could bring back "shady" practices.

GFOA members said they were taken aback and in some cases upset about the tone of the National Federation of Municipal Analysts' letter to regulators.

Mid-size issuers may be experiencing the greatest impact, with one municipality even reporting that an underwriter withdrew a bid over a disclosure requirement.

Blockchain could benefit the muni market, but receives pushback in an industry historically slow to change.