Municipal advisors

PFM Asset Management will continue to operate as a separate entity. The deal does not affect PFM’s financial advisory business which will continue to operate independently.

Dealers and muni advisors think the loyalties of solicitor MAs should be clearly disclosed.

The board had planned to abolish the requirement that MAs advising on competitive deals apply for CUSIP numbers, but has now decided to keep the rule as is.

The agenda includes discussion of possible changes to MSRB Rule G-10, on investor and municipal advisory client education and protection.

The Municipal Securities Rulemaking Board is requesting comment on requiring more written disclosure from solicitor municipal advisors, which make up just 19% of all MA firms.

The firm's leaders say Hilltop Securities sees growth opportunity in municipal bond underwriting, while financial advisory services will "grow selectively."

Much of the material being retired dates back more than 35 years.

Steven Kantor and Kayla MacEwen join a team that has mostly come from Hilltop, expanding Texas-based Masterson Advisors' reach deep into the Northeast.

Acacia and Estrada grew substantially.

Since a temporary exemption allowing muni advisors to facilitate certain private placement deals expired, a federal court cannot strike it down, the SEC argued.