MSRB

The MSRB has taken the relatively rare step of asking for public comments on a draft set of frequently asked questions related to the board's primary muni advisor rule.

The Municipal Securities Rulemaking Board wants to prepare broker-dealers for a forthcoming seismic regulatory change.

The Bond Dealers of America is proposing a multi-faceted "business plan" that would give dealers more time to comply with a rule requiring them to disclose their markups and markdowns to retail customers.

MA and broker-dealer compliance with relatively new rules, as well as the MSRB and FINRA, will be in the spotlight.

The sanctions involved eight transactions of Alaska bonds issued in 2015 and FINRA found the firm had inadequate supervisory procedures.

The Municipal Securities Rulemaking Board's decisions at last week's board meeting reveal that it feels a sense of urgency as the clock ticks down toward the effective date of its landmark markup disclosure rule.

SIFMA is urging the MSRB to be more forthcoming in providing interpretive guidance to dealers and other regulated entities.

The Municipal Securities Rulemaking Board issued a report saying its oversight of the muni market without enforcement power is among the advantages it offers as a self-regulator.

Municipal Securities Rulemaking Board members meeting here next Wednesday and Thursday will discuss the market comments it received on whether to write new rules or guidance on primary market practices.

The Municipal Securities Rulemaking Board’s net assets rose about $5.1 million to $74.4M in fiscal 2017, according to audited financial statements, adding to a healthy reserve the MSRB said it needs to ensure uninterrupted operations.

Best execution, suitability, and other areas of concern for the municipal as well as corporate markets are among FINRA regulatory and exam priorities for 2018.

The Municipal Securities Rulemaking Board is looking for five people knowledgeable about the muni market to sit on its board starting Oct. 1.

The Board said "filtering" bids and offers can hurt retail investors, liquidity, and market efficiency.

The SEC's Fixed Income Market Structure Advisory Committee has liquidity on the agenda for its first open meeting, scheduled for Jan. 11.

Regulators will focus on helping dealers and municipal advisors comply with recently adopted rules and will also monitor how tax reform legislation impacts muni market practices.

The SEC has approved a change to increase the level of information the MSRB collects about certain muni fund securities.

Mehran Tazhibi agreed to pay a $10,000 fine and be suspended for two months.

The SEC's Office of Compliance Inspections and Examinations found municipal advisors had trouble meeting registration, books and records and supervisory requirements.

MSRB data shows the extent to which alternative trading systems are used in the muni market.

Dealers are pleased that the MSRB has expanded the exemption to its CUSIP proposal.