MSRB

Birmingham, Alabama-based FNBB Capital Markets has been fined by the regulator for failing to include certain mark-ups and mark-downs on dealer confirmations sent to retail customers.

The amendments add disclosure scenarios, slightly update the definition of materiality as well as clarify details of supplementary material.

The SEC, MSRB and FINRA will gather in Denver Nov. 20-21 to discuss compliance for MAs and broker-dealers, examination priorities, and more.

According to the board, the addition is an important means to enhance market transparency and is in line with its FY24 priority to expand the EMMA platform.

New rules finalized by the Securities and Exchange Commission aim to bring dealer supervision up to the new standards of remote work but only address part of the problem

The board has issued a request for comment on amendments to Rule A-12 and Form A-12 on registration for associated persons for display on the MSRB site.

In its first report since 2017 on municipal issuer disclosure, the Municipal Securities Rulemaking Board found that the average audit time has risen slightly since 2018 to 209 days, its highest on record.

The board has knocked out nine pieces of interpretive guidance from its inter-dealer confirmation Rule G-12(c) following comments from SIFMA.

The latest round of criticism sounds the alarm bells for closer examination and further exemptions for certain trades and certain broker dealers.

The MSRB's move to a one-minute reporting standard was questioned in a House hearing Tuesday in the context of regulation that could go too far.

Proposed rulemaking on the FDTA is expected in June, but clarity on what exactly it means for the muni market is years down the line.

The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.

In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.

The board approved that step at its second quarter board meeting held this week.

The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.

The Municipal Securities Rulemaking Board's April 17-18 meeting will center on the many rule amendments the regulator has on.

A new report by the MSRB showed that from 2018 to 2022, a substantial increase in trading activity and the number of pre-trade quotes has been responsible for better pricing.

The Municipal Securities Rulemaking Board brought four trade groups together to discuss the volatility and allocation of its fees under the now abandoned rate card model.

Dealer groups look forward to the upcoming meetings to discuss the future of Municipal Securities Rulemaking Board fees.

New MSRB Rule G-46 on the duties of solicitor municipal advisors goes into effect on March 1