Washington

To make more new-issue data available, the MSRB filed a proposed rule change to prohibit dealers from reporting "NRO" unless they also report price and yield information.

In response to a G-17 interpretive notice that takes effect August 2, a SIFMA task force will release a series of documents underwriters can reference as they prepare disclosures to issuers.

Government attorneys released snippets of taped conversations Monday in which UBS bankers and others use phrases like "baking in Chambers" and "the market," language prosecutors say helped them conspire to set bid prices and determine which firms would win contracts.

As the SEC toys with the possibility of imposing further regulations on money market funds, those close to the $2.6 trillion industry say the revisions are problematic, highly unnecessary, and could seriously undermine the successful operation and existence of the 40-year-old industry.

New Rule G-43 requires that broker's brokers make reasonable efforts to obtain fair and reasonable prices when conducting secondary-market "bid-wanted" auctions.

While the Governmental Accounting Standards Board's new accounting standards announced Monday will improve financial reporting for public pension plans they also will put added pressure on cash-strapped state and local governments to reform their systems.

Mary Schapiro, chairman of the Securities and Exchange Commission, laid out a case for additional money market reforms before the Senate Banking Committee Thursday.

The Municipal Securities Rulemaking Board unveiled three new paid information packages Wednesday, giving market participants access to historic primary market disclosures, historic continuing disclosures and historic data for variable-rate securities.

Additional regulation of money-market mutual funds could increase short-term borrowing costs for state and local governments, leading municipalities to raise taxes or cut spending on infrastructure and other critical projects, according to a paper released Monday by a Georgetown University professor.