Msrb Rules News Today

The MSRB has received approval from the SEC for its amendments to Rules G-12 on uniform practice and G-15 on confirmation, clearance, and settlement practices.

The amendments make some key rule changes, including on the use of testimonials in municipal advisor advertising.

The MSRB will request comment on Rule G-12 on inter dealer confirmations and seeks to codify or retire nearly 40 pieces of interpretive guidance related to it.

The MSRB's upcoming board meeting on will focus on time of trade reporting, amendments to Rules G-47 on time of trade disclosures and D-15 on sophisticated municipal market professionals.

The MSRB's proposed amendments to Rule G-47 on time of trade disclosures codifies existing guidance and is being welcomed by dealer groups despite some minor objections.

The rule establishes the standards to which registered solicitor municipal advisors should adhere and includes amendments to Rule G-8 on books and records.

The amendments seek to align the Rules with the Securities and Exchange Commission's recent approval of T+1 clearing across bond markets.

The MSRB intends to file proposed amendments to Rule G-12 on uniform practice with the SEC and move forward with draft amendments to Rule G-32 on primary offering disclosures.

The Ohio-based was underwriter on 47 limited offerings, violating the Commission's limited offering exemption.

The board will be accepting comments on amendments to Rule G-47 until April 17.