MSRB

In its first report since 2017 on municipal issuer disclosure, the Municipal Securities Rulemaking Board found that the average audit time has risen slightly since 2018 to 209 days, its highest on record.

The board has knocked out nine pieces of interpretive guidance from its inter-dealer confirmation Rule G-12(c) following comments from SIFMA.

The latest round of criticism sounds the alarm bells for closer examination and further exemptions for certain trades and certain broker dealers.

The MSRB's move to a one-minute reporting standard was questioned in a House hearing Tuesday in the context of regulation that could go too far.

Proposed rulemaking on the FDTA is expected in June, but clarity on what exactly it means for the muni market is years down the line.

The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.

In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.

The board approved that step at its second quarter board meeting held this week.

The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.

The Municipal Securities Rulemaking Board's April 17-18 meeting will center on the many rule amendments the regulator has on.