MSRB

MSRB's goal is to address the public comments it received and to file a new rate card with the SEC before the end of the year, a spokesperson said.

MSRB appreciates "the robust stakeholder engagement and response" to its requests for feedback on both the rate card and a municipal fund securities concept release, Board Chair Bo Daniels said.

Responses to an MSRB request for comment indicated broad support for an option designed to modernize delivery of municipal fund securities disclosure documents, but there was less unanimity regarding the need for a stand-alone time of trade disclosure rule.

The MSRB's rate card RFI and municipal fund securities will be among agenda topics at next week's quarterly board meeting.

In a 52 to 44 vote Wednesday, the Senate voted to confirm the nomination of President Trump's pick to lead the SEC.

Muni data is complicated, confusing and unstandardized, and analysts say there's a cost to that. 

If the MSRB pursues a pre-trade transparency initiative—though its necessity is debatable given the private sector has already addressed this need—it should leverage existing tools and services used by market participants.

The MSRB has said it is amending a pending rule change that would greatly shorten the reporting time standard for municipal bond trades, which could cause problems for certain transactions, dealer firms said.

Court challenges to self-regulatory organizations may have the potential to trigger a financial crisis, a law professor warns.

The American Securities Association in a brief filed in the U.S. Court of Appeals for the Eleventh Circuit said an SEC order should be set aside because the MSRB is unconstitutionally structured.