SIFMA

Municipal advisors were hoping for something more robust than the comments the MSRB incorporated into its latest "compliance resource."

A proposal by bank and securities regulators to roll back some provisions of the Volcker Rule indicates they may be considering rethinking their previous stance on tender option bonds.

Muni market groups got a long-awaited win when the House passed banking legislation classifying certain munis as high-quality liquid assets, even if it wasn't as big a win as hoped.

A deal struck between House and Senate leaders could lead to a vote as soon as next week on a banking bill that would classify munis as high-quality liquid assets and make them more attractive investments for banks.

The MSRB said its newly-approved rules are an important part of its regulatory efforts, while groups representing dealers and MAs are say they are confusing and need clarification.

The Securities Industry and Financial Markets Association's newest model documents incorporate months of experience with the year-old issue price regulations, which most issuers think are working well.

The MSRB said its proposals should be approved, despite objections from dealers and municipal advisors.

The Securities and Exchange Commission's decision not to extend the effective date of new markup disclosure requirements is disappointing to dealer groups, which have pushed hard for months for a delay.

Muni market groups told the MSRB that its latest FAQs about municipal advisors need to more clearly integrate existing guidance from both the board and the SEC to avoid creating confusion.

Muni issuance will pick up next year, said George Friedlander, managing partner of Court Street Research Group.