MSRB rules

New rules finalized by the Securities and Exchange Commission aim to bring dealer supervision up to the new standards of remote work but only address part of the problem

The board has issued a request for comment on amendments to Rule A-12 and Form A-12 on registration for associated persons for display on the MSRB site.

The board has knocked out nine pieces of interpretive guidance from its inter-dealer confirmation Rule G-12(c) following comments from SIFMA.

The proposal would codify a supervisory system that recognizes the work from home reality.

The SEC has won a partial victory against Choice Advisors and its principal Matthias O'Meara for their role in acting as unregistered brokers and for engaging in a fee-splitting arrangement.

The board approved that step at its second quarter board meeting held this week.

The amendments add three new scenarios that warrant disclosure under MSRB Rule G-47 on time of trade disclosure.

Representatives from the Securities and Exchange Commission gathered Tuesday to discuss some of their examination priorities and some of the trends they're seeing outside of exams.

According to FINRA, the mispricing resulted in customer harm amounting to $44,927.83, on top of the $90,000 fine.

New MSRB Rule G-46 on the duties of solicitor municipal advisors goes into effect on March 1

The Municipal Securities Rulemaking Board's request for information on small firms has commenters divided over what rules should apply to small firms and how the board should go about instituting them.

Comments submitted to the SEC on the MSRB's amendments to Rule G-14 note how important exceptions for manual trades and limited trading activity are in the move to a one-minute reporting standard.

The MSRB requested information about the challenges facing small firms the firms have not held back in citing what they view as a difficult regulatory environment.

Speaking at the 2024 National Outlook Conference, MSRB chief executive officer noted the number of calls the MSRB has received since the suspension was announced.

The amendments add a new section to Rule G-12 to align with Exchange Act Rule 15c6-2.

The veteran-owned Academy Securities failed to file Form G-37 reports in a timely manner, and failed to disclose another 60 municipal underwritings where the firm acted in a managerial capacity.

The proposed amendments, which help to establish a residential supervisory location to help dealers better adapt to a post-COVID world, were approved at the MSRB's quarterly board meeting.

Capital Markets Advisors and its co-principals Richard Ganci and Richard Tortora are caught up in a legal back and forth with the SEC over how MSRB Rule G-42 on conflicts of interest applies to their case.

The regulator has charged a former chief compliance officer $15,000 and a firm $100,000 in twp separate enforcement actions.

The second board meeting of FY 2024 will also see the board mull whether it should modernize its dealer supervision rule.