Regulatory Update: MSRB Rule G-17 and Response to Comments on SR-MSRB-2019-10

Written By Brandon Klerk

In response to suggestions from commenters, the Municipal Securities Rulemaking Board (MSRB) filed with the U.S. Securities and Exchange Commission (SEC) amendments to its proposal to revise 2012 interpretive guidance under MSRB Rule G-17, on conduct of municipal securities and municipal advisory activities. Among other revisions, the amendment would clarify when underwriters in a syndicate must provide disclosures to an issuer regarding the specific characteristics of a recommended transaction and exclude dealers serving as a primary distributor in a continuous offering of municipal fund securities from the disclosure requirements of the notice.

Read the MSRB’s response to comments here.
View the amendment here.

Brandon Klerk https://www.halyardcompliance.com
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