Page 5 - Msrb Rules News Today

The Municipal Securities Rulemaking Board’s second quarter meeting will feature discussion of one of the board's more controversial recent publications.

The Municipal Securities Rulemaking Board has closed its second comment period on Rule G-46, collecting three responses.

Emily Brock, director of the federal liaison center at the Government Finance Officers Association, takes time out to talk with Chip Barnett at The Bond Buyer’s National Outlook Conference about infrastructure spending. She also looks at the possibility of Congress approving the return of tax-exempt advance refundings and the SEC and MSRB’s focus on issuers ESG disclosures. (17 minutes)

FINRA found that Michael Mancinelli improperly exercised discretion and caused his firm to have inaccurate books and records.

The 70-page report homed in on some muni-specific risks uncovered during examinations.

FINRA found that Michael Mancinelli improperly exercised discretion and caused his firm to have inaccurate books and records.

The defendants believe the charges are lacking on numerous levels while the SEC argued that fee-splitting is a clear and known rule violation.

The Municipal Securities Rulemaking Board voted to propose amendments to extend remote inspections until the end of this year, in addition to adjusting its fee model for the 2023 year.

Industry advocacy groups want uniform rules that enhance clarity and common understanding without adding complexity or liability.

Groups believe that the draft compliance resources contain some useful information, though they could be construed as creating new compliance requirements.