Broker dealers

The change would give broker dealers, municipal securities dealers and municipal advisors until Jan. 31 to annually affirm the information on Form A-12, among other changes.

The Municipal Securities Rulemaking Board has announced its fifteen-member Compliance Advisory Group for the 2023 fiscal year, which includes eleven women and four men.

The Securities and Exchange Commission's 2020 amendments to rule 15c2-11 on the publication of quotes by broker dealers won't be enforced until 2025.

Should the proposal go forward, the board should provide analysis and evidence as to how such a requirement would benefit the market, dealers said.

The Municipal Securities Rulemaking Board's intends to spend $45.5 million over the course of FY2023.

Brett, whose term ends this week, oversaw the MSRB's push for a greater integration of technology as well as overseeing some controversial rule proposals.

Municipal market participants are gaming out post-election scenarios that pose opportunities and risks for budgets and portfolios.  

Ahmed's appointment comes a few months after longtime SIFMA lawyer Ira Hammerman announced he would leave the job this year.

On Tuesday, the Municipal Securities Rulemaking Board filed a proposal with the SEC to changing Rule G-3, which governs continuing education requirements.

Los Angeles' debt manager says the mandate will not change the already inclusive processes it uses to hire financial teams to work on the city's debt.

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposed changes to Rule G-34 on CUSIP applications, removing the requirement for municipal advisors to file new issue applications in one business day, among other changes.

FINRA and MSRB actions are drawing broker-dealer firms to lobbying groups.

Brokers should be aware that inaccurate tax reporting could force its brokerage clients to seek damages and could force dealers to make their clients sign a liability waiver, as the recent muni case Richard Goodman v. UBS Financial Services highlights.

The proposal may be less feasible for certain types of trades, market participants said, especially larger trades.

A new study found that following the recent law in Texas law barring muni underwiriting by banks discriminating against the oil and gas industry, municipalities face higher borrowing costs after many players exited the market.

The MSRB’s proposed changes to its fee structure fails to address the discrepancy between fees generated from dealers and municipal advisors in addition to a lack of transparency in its budgeting process.

The MSRB plans to issue a request for comment on its Rule G-14, in addition to publishing a summary of the comments on its request for information on ESG factors.

The Securities and Exchange Commission’s Division of Examinations intends to home in on municipal advisor obligations, transfer agents and municipal issuer disclosures.

The Memphis-based investment bank launches a new office with two municipal professionals on board.

Sanchez was instrumental in drafting the municipal advisory regulatory regime during his previous stint at the SEC.