MSRB

The MSRB's upcoming board meeting on will focus on time of trade reporting, amendments to Rules G-47 on time of trade disclosures and D-15 on sophisticated municipal market professionals.

The MSRB's proposed amendments to Rule G-47 on time of trade disclosures codifies existing guidance and is being welcomed by dealer groups despite some minor objections.

Comments for the proposal are in and many urge the Commission to drop the proposal it due to the overlap of existing MSRB and FINRA rules.

The amendments seek to align the Rules with the Securities and Exchange Commission's recent approval of T+1 clearing across bond markets.

But the Securities and Exchange Commission's best-execution proposal, largely dismissed as duplicating an existing Financial Industry Regulatory Authority edict, could have wide-ranging implications for trading firms in options, bonds, and crypto securities as well as equities.

The MSRB intends to file proposed amendments to Rule G-12 on uniform practice with the SEC and move forward with draft amendments to Rule G-32 on primary offering disclosures.

The board will be accepting comments on amendments to Rule G-47 until April 17.

The proposed Rule G-46 seeks to clarify certain rules specific to solicitor municipal advisors, a very specific group of professionals.

"I think ESG is here to stay in our market. I think it's a natural fit with the types of infrastructure that our market finances," said MSRB CEO Mark Kim.

The Securities and Exchange Commission's examination priorities for the year include big ticket items like Regulation Best Interest.