MSRB rules

New MSRB Chair Edward Sisk will start in his new role on Oct. 1.

The Municipal Securities Rulemaking Board is reviewing its size and the composition of its board, and projects an operating deficit for the coming year.

The New York-based firm mismarked 90% of its municipal securities trades, FINRA found.

The Municipal Securities Rulemaking Board doubled professional fees for municipal advisors last week.

The MSRB announced Monday that Post will be a “senior advisor” through the end of the month, when the board’s fiscal year ends.

“A highly sophisticated frequent issuer may not need the same disclosures as a less sophisticated infrequent issuer,” the trade association for underwriters told the SEC.

The group sent a letter to the Securities and Exchange Commission this week asking for fair dealing rule guidance to be better tailored to 529 savings plans.

Muni professionals’ knee-jerk response is that the phrase is clear, until they attempt to explain it. And then they realize that it is nonsensical.

The MSRB wants to work with other regulatory groups to decrease confusion surrounding suitability rules in conjunction with the SEC's new Regulation Best Interest.

Issuers and non-dealer muni advisors support the existing prohibition, while dealers asked the MSRB to provide some flexibility.

Market participants want someone with a deep industry knowledge as the MSRB is set to begin its search for a new president.

In Schwartz, MSRB loses an experienced lawyer, respected by his peers, as it faces a future without its longtime leader.

Her announcement comes at a time of scrutiny from lawmakers and the SEC.

Edward Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, will chair the Municipal Securities Rulemaking Board beginning Oct. 1.

MSRB President and CEO Lynnette Kelly will be retiring at the end of the fiscal year after 12 years leading the organization.

Warren is among the most prominent Capitol Hill voices on issues related to financial regulation.

Market-moving developments should keep Puerto Rico securities very actively traded for months to come.

At its quarterly board meeting last week, the MSRB decided to do away with Rule G-34’s provision that all municipal advisors, whether dealer or non-dealer, have to apply for a CUSIP number in competitive sales.

Prominent muni market figures will discuss the content and timeliness of disclosure at an SEC committee meeting next week.

The MSRB filed proposed Rule G-17 interpretive guidance to the SEC on Tuesday, aiming to streamline underwriters' disclosures to issuers.