MSRB Proposes Amendments to Existing Obligations of Municipal Securities Dealers Related to Fair Pricing (with Lofchie Comment)

The MSRB filed with the SEC a proposal to streamline and consolidate into a single rule the existing obligations of municipal securities dealers related to fair pricing. Under the proposal, most pricing obligations would be contained in revised MSRB Rule G-30 ("Prices and Commissions"), including duties and guidance under current MSRB Rule G-18 ("Execution of Transactions") and Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities").The proposal indicated that the new rule was intended to consolidate and codify existing rules and interpretations rather than change existing laws.

Lofchie Comment: The MSRB comprehensively set out comments it received and explained in a direct manner why it accepted or rejected them. Procedurally, it is a good thing that these regulators are moving in this direction.

See: MSRB Rule Filing.