MSRB

The MSRB has received approval from the SEC for its amendments to Rules G-12 on uniform practice and G-15 on confirmation, clearance, and settlement practices.

The amendments make some key rule changes, including on the use of testimonials in municipal advisor advertising.

The Municipal Securities Rulemaking Board is seeking an MA candidate to replace Jill Jaworski as she leaves to become the chief financial officer of the City of Chicago.

The MSRB will request comment on Rule G-12 on inter dealer confirmations and seeks to codify or retire nearly 40 pieces of interpretive guidance related to it.

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.