SEC

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.

Sanchez cited affordable housing and "project-based" types of transactions as areas "where we are seeing … lawyers more openly engaging in structuring that might be problematic." 

If the SEC grants exemptive relief to firms seeking to offer a multi-class structure, "we will see more ETFs of actively managed municipal bond strategies."

"We're always happy to have these conversations," Sanchez said during a virtual conference co-hosted by XBRL US and the University of Denver.

The funds have net assets of around $187 million.

There have been critics of SRO authority since they started regulating the financial industry nearly a century ago, but their ideas have yet to find a political moment so suited to them.

The MSRB Board also elected PRAG's Wendell Gaertner as vice-chair and approved a budget and rate card.

The meeting will be held on July 23 and 24.

Randall "Randy" Miller, Chad Miller and Jeffrey De Laveaga were charged by the SEC with creating false documents that were provided to investors in two municipal bond offerings.

"We supported the approved rule change and are extremely disappointed that the MSRB is now proposing to halt the progress it had been making toward full and complete transparency in the municipal securities market," Dimensional Fund Advisors officials said in a letter.

Isaak Bond Investments has agreed to pay a $20,000 fine to settle allegations brought by the Financial Industry Regulatory Authority.

"I've always really enjoyed what I do," said Henry, who began doing legal work involving municipal securities in 1981.

"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.

"I think your first question to them should be 'Are you from the future?,'" the deputy director of the SEC's Office of Municipal Securities said.

Sanchez said the GFOA's debt committee in particular is a place where there could be discussion about what kind of controls are necessary to address the situation. 

"The market itself should want to look at this because no one wants to give the perception of impropriety," said an investor of Stefanik's allegation that Harvard withheld material information regarding its ongoing conflict with the Trump administration.

The proposal would effectively cancel part of a rule change that had not yet become effective.

As Congress grinds through the budget reconciliation, fixed income market experts are eyeballing an uncontrolled national debt while dreading a heavy-handed response from the Treasury bond market.

The law has become no less controversial nearly three years after its passage.