MSRB

A report by the Securities Industry and Financial Markets Association shows that the move to a T+1 settlement cycle has struck the right balance between increasing efficiencies and mitigating risk.

The data comes from a new MSRB study, on a topic related to a 2023 report.

Dealers are welcoming the widening of the exceptions to manual trades and de minimis trading activity but are still asking regulators to prove why such a move is necessary.

The Financial Industry Regulatory Authority adds Morgan Stanley to the growing list of firms charged with mark-up and mark-down failures on municipal securities transactions.

The amendments to MSRB rule A-12 on registration would cause bank dealers to disclose associated persons, the same requirements that currently apply to non-bank dealers.

The three new members will serve four-year terms beginning with the board's new fiscal year in October.

Regulators indicated they may prefer the use of Financial Instrument Global Identifiers for securities.

Riedl First Securities Company of Kansas has been fined $15,000 by FINRA for charging unfair prices, violating MSRB Rule G-30 on fair pricing and MSRB Rule G-27 on supervision.

The Jeffrey Matthews Financial Group has been charged $110,000 for charging unfair prices on 86 municipal bond transactions a week after being dinged for Reg BI violations.

During its final quarterly meeting for the FY 2024 fiscal year, the Municipal Securities Rulemaking Board elected a new chair and vice chair, and approved a $48.8 million budget for the upcoming year.