MSRB rules

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.

The report came in advance of a three-day MSRB board meeting on options to enhance transparency and educate investors.

Louisiana Sen. John Kennedy is joined by Alabama Democrat Doug Jones on a bill to reshape the MSRB board.

The MBSB and the Muni Forum of N.Y. is hosting the 2019 Urban Leadership Fellows for a “Municipal Finance Day” on Monday.

Sen. John Kennedy introduced the bill in April, and is attempting to move it forward. It would overhaul MSRB board membership rules, particularly for members representing the public.

Both BDA and SIFMA have now both asked the SEC not to grant regulatory relief to PFM, one of the largest municipal advisors in the business.

The SEC approved the changes to Rule G-11 on primary offerings and Rule G-32 on disclosures in connection with primary offerings late last week after a two-year review process by the MSRB.

Investor confusion about Harvey, Illinois, and a local library district contributed to a municipal advisor and broker-dealer facing Securities and Exchange Commission charges in a bond offering gone wrong.

A PFM letter caused a firestorm among dealer groups who say that if municipal advisors want to engage in broker-dealer activities, they need to register as such.

On Wednesday, the SEC approved the final rule 3-1, with Commissioner Robert Jackson voting against the rule.

In late May, the MSRB enhanced its search functionality on its Electronic Municipal Market Access site (EMMA) by implementing an algorithm that allows for predictive searching.