MSRB Says Pay-to-Play Rules Coming to Municipal Advisors
Following its quarterly meeting, the Municipal Securities Rulemaking Board, or MSRB, stated its Board agreed to extend its pay-to-play rules to municipal advisors.
Other items on the MSRB’s regulatory agenda include:
- The Board agreed to seek approval from the Securities and Exchange Commission (SEC) to implement a “best-execution” standard for transactions in the municipal market.
- The Board also advanced three initiatives to enhance price transparency for municipal securities investors.
- The Board also agreed to file with the SEC a modified proposal to require that dealers provide annual training on municipal securities to registered persons regularly engaged in municipal securities activities as part of the MSRB’s firm element continuing education requirements.
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