Dodd-Frank.com

MSRB Requests Comment on Municipal Advisor Rules on Written Communications and Disclosures

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The Municipal Securities Rulemaking Board, or MSRB, has requested comment on extending the MSRB’s rule on advertisements to cover municipal advisors and on a draft interpretive notice covering other forms of marketing communications.  It also requested comment on a new rule requiring municipal advisors to evidence their engagements in writing,... Read More

Topics: Municipal Advisors

MSRB Proposes Groundbreaking Rules on Obligations of Municipal Securities Underwriters to Government Bond Issuers

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The Municipal Securities Rulemaking Board, or MSRB, has requested approval from the SEC of a notice that would establish detailed obligations of underwriters of municipal securities to their state and local government clients covering clear disclosure of risks and conflicts of interest, among other things. The proposal is a key... Read More

Topics: Municipal Advisors

MSRB Adopts Dealer Role-Switching Prohibition to Eliminate Conflict of Interest in Municipal Securities Underwriting

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The Municipal Securities Rulemaking Board, or  MSRB, has adopted a significant rule change to address concerns over conflicts of interest by financial intermediaries in municipal bond underwritings. The change prohibits municipal securities dealers from acting as a financial advisor to a municipal entity on a new bond issue and subsequently... Read More

Topics: Municipal Advisors

MSRB Requests Comments on a Draft Rule and Interpretive Notices for Municipal Advisors

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The Municipal Securities Rule Making Board, or MSRB, is requesting comments on a draft rule and two interpretive notices applicable to municipal advisors. The interpretive notices are based upon the statutory definition of municipal advisor set forth in the Dodd-Frank Act without regard to any interpretation of that term proposed... Read More

Topics: Broker-Dealer, Municipal Advisors