SEC

"Over the next fiscal year, I look forward to collaborating with MSRB Board members from across our industry, and the nation," Board Chair Natasha Holiday said.

"I would say don't be afraid to pick up the phone and talk to investors directly," Nuveen's Molly Shellhorn said.

"Bond by bond, project by project the muni market has helped to build the spaces and places where American life unfolds," SEC Chairman Paul Atkins said in a speech delivered at the MSRB's 50th Anniversary Celebration Tuesday evening.

Prior to Dimensional's approval, only Vanguard held a patent to the ETF-as-a-share-class structure, but the patent expired in 2023.

"It shows the chairman's understanding of the practical realities of firms...," Peter Chan, a partner at Baker McKenzie said.

"Going forward, the staff will provide the other side with at least four weeks to make Wells submissions," SEC Chairman Paul Atkins said in a recent speech.

"It is a big problem across the board with all types of deal participants perhaps venturing into unregistered MA activity," said Susan Gaffney.

The board also said it plans to return more than $23 million in surplus operating reserves to the municipal bond industry.

SIFMA looks forward to "the SEC approving this rate card, and the resulting fee reductions," Leslie Norwood said.

The SEC-approved amendments will become effective in two stages, the MSRB said.