MSRB rules

The firm, without admitting or denying the findings, agreed to pay a $60,000 civil penalty.

During its quarterly board meeting, the MSRB approved its controversial one-minute trade reporting window and approved a $47 million budget for FY 2024.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

The proposed change to a one-minute reporting window will be discussed at the Municipal Securities Rulemaking Board upcoming quarterly meeting.

The rule amendments would create an exemption for previously qualified municipal advisors to forego requalification after a lapse in working for a municipal advisor.

The SEC has settled with Robert Benecke and his firm Benecke Economics for acting as an unregistered MA in a case that is emblematic of the growing problem regulators and advisors alike face.

The MSRB has received approval from the SEC for its amendments to Rules G-12 on uniform practice and G-15 on confirmation, clearance, and settlement practices.

The amendments make some key rule changes, including on the use of testimonials in municipal advisor advertising.

The MSRB will request comment on Rule G-12 on inter dealer confirmations and seeks to codify or retire nearly 40 pieces of interpretive guidance related to it.

The MSRB's upcoming board meeting on will focus on time of trade reporting, amendments to Rules G-47 on time of trade disclosures and D-15 on sophisticated municipal market professionals.

The MSRB's proposed amendments to Rule G-47 on time of trade disclosures codifies existing guidance and is being welcomed by dealer groups despite some minor objections.

The rule establishes the standards to which registered solicitor municipal advisors should adhere and includes amendments to Rule G-8 on books and records.

The amendments seek to align the Rules with the Securities and Exchange Commission's recent approval of T+1 clearing across bond markets.

The MSRB intends to file proposed amendments to Rule G-12 on uniform practice with the SEC and move forward with draft amendments to Rule G-32 on primary offering disclosures.

The Ohio-based was underwriter on 47 limited offerings, violating the Commission's limited offering exemption.

The board will be accepting comments on amendments to Rule G-47 until April 17.

FINRA fined Quint Capital Corporation $35,000 and its founder Alexander Quint $10,000 over their role in allowing a broker banned by the SEC and FINRA to work for the firm.

The proposed Rule G-46 seeks to clarify certain rules specific to solicitor municipal advisors, a very specific group of professionals.

"I think ESG is here to stay in our market. I think it's a natural fit with the types of infrastructure that our market finances," said MSRB CEO Mark Kim.

The Financial Industry Regulatory Authority found that BNA Wealth didn't meet the regulatory requirements when it sold shares in 529 plans.