MSRB quarterly meeting topics include dealer supervision
Topics on deck for discussion at next week’s quarterly meeting of the Municipal Securities Rulemaking Board are expected to include “potential next steps” to further the MSRB’s efforts to modernize its dealer supervision rule.
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The two-day meeting, set for Oct. 21 and Oct. 22, will mark the board’s first quarterly meeting of fiscal year 2027. The quarterly meeting will also mark Alexander Chilton’s first as board chair and Pamela Frederick’s first as vice chair.
In September, the MSRB received
With regard to Rule G-27, the board at next week’s meeting is slated to discuss “potential next steps on MSRB dealer supervision initiatives and the status of harmonization efforts more generally with [Financial Industry Regulatory Authority] rules, as appropriate,” the MSRB said in an Oct. 14 press release.
The Bond Market Association “is encouraged that the board will be considering next steps in its review of Rule G-27 and the supervision regime generally,” Michael Decker, senior vice president for research and public policy at BMA, said Wednesday.
“While we fully support the amendments to G-27 recently approved by the SEC, we believe there is room for more modernization,” Decker said.
Also with regard to regulatory modernization, the board at next week’s meeting is expected to discuss updates on Rule G-32 and Rule G-37 as part of the MSRB’s retrospective rule review, the release said.
In September, the MSRB published a request for comment seeking input on draft amendments to Rule G-32, which pertains to disclosures in connection with primary offerings, to modernize dealers’ disclosure
Rule G-37 relates to political contributions and associated prohibitions on engaging in municipal securities business and municipal advisory business.
Next week’s board meeting is also slated to include further discussion of comments received on the MSRB’s retrospective review of its municipal advisor rules “and the potential retirement of certain financial advisor terminology,” according to the release.
The meeting is also expected to include discussion of market transparency and public accountability topics including “an update on the ongoing systems modernization project, which includes upgrades to MSRB’s technology systems to receive, store and distribute data and documents in a secure, efficient and timely manner,” the release said.
The board is also expected to discuss MSRB research and analysis on the municipal market as well as upcoming research, according to the release.
