Securities law

Late last week FINRA sent out a notice reminding its members to register as MAs if they engage in investment-related activity with their clients.

Market participants want someone with a deep industry knowledge as the MSRB is set to begin its search for a new president.

In Schwartz, MSRB loses an experienced lawyer, respected by his peers, as it faces a future without its longtime leader.

Edward Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, will chair the Municipal Securities Rulemaking Board beginning Oct. 1.

MSRB President and CEO Lynnette Kelly will be retiring at the end of the fiscal year after 12 years leading the organization.

The SEC and Bank of Oklahoma differ in what they want a federal judge to do next in the Christopher Brogdon case, though both claim to have investors' best interests at heart.

FINRA settled with two parties after they violated MSRB Rule G-17 by whiting out dates and failing to disclose a $2 million fee up until an issuance.

SEC Chair Clayton’s comments that information on EMMA is subject to more scrutiny could be true for some participants depending on issuers’ reliance on the MSRB site.

The complaint filed by Philadelphia and Baltimore fails to rise to the level of specificity needed to prove conspiracy, Wall Street banks told a federal judge.

The National Association of Municipal Advisors wants SEC staff action to protect MAs and possible eventual rulemaking to create "regulatory parity" between MAs and broker-dealers.