SEC

The MSRB should "eliminate all location-based concepts of supervision," SIFMA's Leslie Norwood said in a March 16 comment letter.

Acting Director Sam Waldon "will be a steady hand for the division during this period, including for municipal securities-related enforcement activity," said Kathleen Marcus, a partner at Stradling.

BDA "strongly supports FINRA and the MSRB remaining independent self-regulatory organizations," Mike Nicholas said. 

Currently, the 15-member board consists of eight public representatives and seven regulated representatives.

"This matter involves unregistered municipal advisory activity by Ford Research and its president, founder, owner, and sole employee Ford," the SEC's order said.

The MSRB published the request for comment Nov. 3 to seek input on draft amendments to Rule D-15, which defines the term sophisticated municipal market professional.

"This would be an unnecessary change that would be difficult to administer and comply with and which would severely limit municipal entity choice," the Bond Dealers of America said in a comment letter.

"MSRB is committed to ensuring our regulatory framework keeps pace with an evolving market," MSRB Board Chair Natasha Holiday said.

"Compliance should never feel like a game of gotcha," SEC Chairman Paul Atkins said.

"I don't think this topic is necessarily gaining traction as an enforcement matter," said Andrew Kintzinger, counsel at Hunton Andrews Kurth LLP.

It's the first time the regulator has named VRDO rate-resetting process as an area of review.

Green will focus full-time on Democracy Solutions, a firm he launched in March 2024.

The compliance outreach program for municipal advisors and dealers, will be hosted jointly by the SEC, MSRB and FINRA.

"We sued to take a stand against the SROs on principle," an ASA spokesperson said Wednesday in a reference to both the MSRB and FINRA.

"What we plan to tell the SEC is that municipal securities in general shouldn't be subject to Reg. AB," BDA's Michael Decker said.

Fippinger teamed up with co-authors Peg Henry and Ernesto Lanza for "The Securities Law of Public Finance (Fourth Edition)."

"BDA supports the proposal and we encourage the commission to approve it," its letter said.

"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.