MSRB Recaps Recent Municipal Regulatory Developments

The MSRB held a quarterly meeting at which it discussed a number of initiatives. These included the following:

• shedding more light on costs and potential risks to investors in the municipal market through markup and bank-loan disclosure;

• improving the utility of the MSRB's Electronic Municipal Market Access (EMMA®) website; and

• approving the issuance of a request for comments regarding MSRB Rule G-15(f)(iii), which provides a limited exception to the prohibition against sales to customers in amounts below the minimum denomination of an issuance.