MSRB

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.

The Municipal Securities Rulemaking Board plans a review after pressure from Sens. John Kennedy and Elizabeth Warren to change the makeup of its membership.

Municipal market participants got some comfort about their fraud liability if they act in good faith on interim financial disclosures.

After getting national attention for allegedly swindling millions from a disabled billionaire client, brokers Ami Forte and Charles Lawrence have been barred from the industry.

The dealer entered into two municipal bond orders into a recently deceased customer's account.

The Financial Industry Regulatory Authority's 2019 Report on Examination Findings, released Wednesday, discussed violations FINRA personnel discovered.

The firm attached a corrective action statement detailing changes to its personnel, compliance department and municipal trading desk.

MSRB Chief Education Officer Ritta McLaughlin will be the fifth senior official to leave the MSRB in the last couple of months.

Though many participants were pleased with changes the Municipal Securities Rulemaking Board has proposed for its fair dealing guidance, some worried about new compliance expectations.

Administrative failures or a lack of understanding of the rule may be to blame.

Municipal advisors can begin taking their principal exams in November.