MSRB rules

Some stakeholders say the CUSIP requirement for MAs is needed, while other say it is burdensome.

J.W. Korth & Co. was found to have charged excessive markups in 38 sales of municipal securities.

The MSRB is requesting comment on whether Rule G-23 is still relevant and whether it helps the MSRB achieve its objectives of protecting issuers and investors.

Municipal Securities Rulemaking Board Chair Gary Hall said the MSRB will examine governance rules such as the time period between when individuals leave their industry jobs and when they are allowed to become public board members.

Issuers are concerned that the Municipal Securities Rulemaking Board reopening discussion of Rule G-23 could bring back "shady" practices.

The Securities and Exchange Commission is on the lookout for municipal advisors skirting the Series 50 Exam.

The amended rules require dealers to disclose markups and markdowns as a total dollar amount and as a percentage of the prevailing market price to retail investors.

The BDA believes that in addition to removing the Rule’s restriction on competitively bid transactions, it should consider simply eliminating it altogether.

Though some dealers endured a technological headache, the year-old rules have improved transparency without disrupting trading, the MSRB said.

The Securities Industry and Financial Markets Association said to manually input the data would require more time and staff.

More insight into board member selection and decisions would benefit the market and its primary regulator.

The new amendments to be filed to the Securities and Exchange Commission will give disclosure responsibility to the lead underwriter, meaning less duplicative disclosure for issuers.

The MSRB said Rule G-29 doesn't make sense anymore since the rulebook can be accessed online.

The Municipal Securities Rulemaking Board is making its MuniEdPro free for all market participants.

The SEC’s Technology and Electronic Trading Subcommittee meets on pennying.

A Chicago area broker-dealer agreed to pay a $25,000 to settle FINRA charges that it relied on alternative trading systems and failed to maintain its own risk-management controls.

The MSRB plans to roll out changes to simplify the submission process on EMMA.

The new amendments would increase transparency and equal access to information, the MSRB said.

Underwriting, transaction and technology fees will be reduced during a six-month period.

The groups believe the MSRB cast too wide a net to non-syndicate dealers in its January draft guidance.