SIFMA

An independent municipal advisor said recent efforts made by broker-dealer advocacy groups are part of a "membership battle."

SIFMA said Friday it had filed suit in Federal court in Washington D.C. asking the court to vacate the SEC’s Temporary Conditional Exemption.

The House is expected to pass a $1.5 trillion dollar infrastructure package, mostly along party lines, while a bipartisan Senate bill to restore advance refunding may build momentum in that chamber.

The SEC released an emergency order Tuesday that would allow municipal advisors to facilitate some private placement deals, which have seen an uptick during the pandemic.

A sticking point for dealers is the MSRB's proposal to reserve two seats on its board for municipal advisors.

Lawmakers stressed the importance to invest in infrastructure as a way for the country to recover from the pandemic.

Dealer groups supported the MSRB's move, saying it would remove a disincentive to use the Fed's short-note program.

SIFMA released two new model documents to reflect the senior managing underwriter’s role to make standard disclosures as well as its own dealer transaction specific disclosures to keep up with changes to the MSRB's fair dealing rule.

The Fed’s rates send a signal to the municipal market that it wants it to survive on its own.

The House is expected to release a stimulus package in the next few days.