The MSRB said its newly-approved rules are an important part of its regulatory efforts, while groups representing dealers and MAs are say they are confusing and need clarification.
Muni market groups told the MSRB that its latest FAQs about municipal advisors need to more clearly integrate existing guidance from both the board and the SEC to avoid creating confusion.
The MSRB said the paper was prompted in part by the tax law's prohibition on advance refundings and the fact that interest rate swap rules intersect with the board's rules for municipal advisors.
A newly-published MSRB document is aimed at helping to reign in what the SEC has described as fairly widespread violations occurring at smaller municipal advisory firms.
Liz Miller, president of Summit Place Advisors, talks about what her clients look for — and what they need — when they buy municipal bonds. She also looks at what clients should look for in 2018. Chip Barnett hosts.
