MSRB

The Financial Industry Regulatory Authority released its annual Risk Monitoring and Examinations Priorities letter Thursday.

Dealer groups want the SEC to examine broker-dealers and municipal advisors equally.

Some smaller firms are deciding to qualify more than half of their municipal advisor principals as a sort of backup plan.

Events at the SEC are likely to create a number of important MSRB rule changes in the coming year.

The Municipal Securities Rulemaking Board will require more data starting Nov. 30, 2020.

Executive search firm Spencer Stuart has been calling industry leaders asking for feedback on the organization.

Issuers, bond lawyers, and analysts have all raised complaints about the proposed addition to EMMA.

The SEC chairman’s comments are consistent with his record, which has included repeated calls for the MSRB to take steps to be sure investors are aware that issuer financials filed to EMMA can often be many months old.

The proposal would impact the private placement business and may require amendments of MSRB rules.

The Financial Industry Regulatory Authority found D.A. Davidson & Co. provided inaccurate pricing in issue price certificates.

The Municipal Securities Rulemaking Board assigned muni market veterans to give input on rules and transparency related to municipal fund securities.

Securities and Exchange Commission Chair Jay Clayton seemed noncommittal on a proposed exemptive order for municipal advisors.

Matt Posner started his new role as director of market structure-transparency on Monday.

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.

If the proposal is approved, the timing of issuers' annual financial disclosures would be prominently displayed as soon as the beginning of 2020.

The changes will slim down underwriters' disclosures to issuers, which many believed had become too lengthy and wordy to be useful.

The number of trades decreased about 16% to 2.01 million from the same quarter in 2018.

At an SEC Fixed Income Market Structure Committee meeting on Monday, participants suggested giving out awards to incentivize issuers to submit timely financial information.

As the House of Representatives votes to approve next steps in President Donald Trump's impeachment inquiry, the muni market considers the possible impact.

Dealer groups believe that some sections of the proposed amended guidance such as complex financing and disclosure standards would add complexity to the rule.