MSRB rules

The MSRB's priorities for the year include action on ESG, updates to its EMMALabs platform, and more requests for comment aimed at modernizing its rulebook.

Some firms are voluntarily self-reporting potential supervisory and suitability rule violations.

FINRA found that RBC’s supervisory system did not flag recommendations that resulted in potentially unsuitable concentrations of high-yield bonds in certain customer accounts.

The defendants are raising questions about due process and the definition of fee-splitting arrangements.

The Municipal Securities Rulemaking Board will begin accepting applications for two public and two regulated representatives to join its 15-member board.

Former JP Morgan broker allegedly provided incorrect and misleading account reports to a customer.

Underwriter Cantone Research’s alleged fraudulent misrepresentations are tied to two defaulted bond offerings.

Modernizing rules and leveraging technology are focal points for the organization.

The presence of unregistered — and potentially unqualified — advisors providing municipal advisory services to state and local governments and other municipal entities is a cause for concern and greater regulatory scrutiny.

Erring on the side of caution and good documentation are key to managing conflicts of interest

FINRA said the firm failed to detect and resolve short positions in municipal securities

A firm and its two principals have been charged for an improper fee-splitting arrangement under the relatively new regulatory regime for municipal advisors.

The Municipal Securities Rulemaking Board has published its strategic goals for the next four years, which includes the launch of EMMALabs, moving all of its data systems to the cloud and updating its rulemaking guidance.

The proposed changes would reduce the volume of disclosures dealers have to make to customers each year.

The MSRB has announced an extension for municipal bond advisors seeking Series 54 certification, moving the compliance date from to Nov. 30, 2021, from Nov.12.

The trouble stems from a West Virginia tender offer deal Crews & Associates recommended to an issuer.

The board decided last month it would seek commission approval to tweak rules related to mandatory disclosures.

It was a busy quarterly board meeting for the MSRB.

Alleged supervisory failures led to unsuitable trading patterns of Puerto Rico and other bonds, FINRA found.

Ed Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, has been MSRB chair since Oct. 1, 2019.