The Municipal Securities Rulemaking Board has selected two individuals representing the public and three from regulated entities from 80 applicants to become part of its 21-member board on Oct. 1.
The resource document the MSRB released Thursday is designed to help dealers comply with rule changes on markup disclosures to retail investors that took effect on May 14.
Sen. John Kennedy, R-La., suggested he and Sen. Elizabeth Warren, D-Mass., may introduce a bill that would require MSRB to elect public members who represent consumers and are not just retired industry executives.
Changes the Federal Reserve Board made in 2016 to its Liquidity Coverage Ratio rules would treat munis more restrictively than other, similar Level 2B high quality liquid assets.
Kalotay faults the Municipal Securities Rulemaking Board and U.S. Securities and Exchange Commission for not requiring training in options-based analytics as part of their certification of municipal advisor representatives.
A newly released research paper found that the probability that a state general obligation bond will be rated higher after the Dodd-Frank Act is 2.7 times greater than before the law was enacted.
