MSRB rules

The $28,800 fine pertaining to violations of Municipal Securities Rulemaking Board rules was part of a $75,000 total fine imposed by FINRA.

Vivian Altman, Nancy Feldman, Daniel Hartman and JoLinda L. Herring slated to serve four-year terms starting Oct. 1.

There have been critics of SRO authority since they started regulating the financial industry nearly a century ago, but their ideas have yet to find a political moment so suited to them.

The MSRB Board also elected PRAG's Wendell Gaertner as vice-chair and approved a budget and rate card.

The proposal would effectively cancel part of a rule change that had not yet become effective.

The action stems from conduct that occurred from 2020-2023, FINRA alleged.

MSRB appreciates "the robust stakeholder engagement and response" to its requests for feedback on both the rate card and a municipal fund securities concept release, Board Chair Bo Daniels said.

The American Securities Association's federal appeals court case regarding an SEC order has been stayed until Aug. 13.

The MSRB has said it is amending a pending rule change that would greatly shorten the reporting time standard for municipal bond trades, which could cause problems for certain transactions, dealer firms said.

The MSRB said its board at a previously scheduled meeting Thursday authorized the filing of further amendments to Rule G-14 .

FINRA found that Tradeweb had violated an MSRB rule by failing to include the 'NTBC indicator' when reporting certain municipal securities transactions.

The MSRB has a full slate of initiatives teed up, with an emphasis on modernizing its rulebook.

The MSRB is looking for industry input regarding proposed rules changes for Rules G-17, G-32 and G-47.

Rep. Patrick McHenry, R-N.C., also said implementation of the data standards law may be tricky with the change of administrations.

Independent Financial Group, LLC failed to ensure its employees were offering low-cost options to retail customers looking to rollover a 529 plan to another state.

The Commission credits its work this year partially to the willingness of market participants to self report and cooperate with investigations.

Panelists at the SEC, FINRA and MSRB joint Compliance Outreach Program looked at the state of municipal advisor regulation and how the Commission could respond going forward.

Drexel Hamilton and four of its representatives were charged by the Financial Industry Regulatory Authority for violating the retail order period eligibility criteria set by municipalities.

The board has launched the new Technology Advisory Group and relaunched the Compliance Advisory Group and is seeking volunteers for both.

Municipal advisor Hamlin Capital Advisors and Michael Ferrell Braun have been charged by the SEC for failing to disclose material conflicts of interest to its charter school clients.