The MSRB published investor education materials on mark-up and mark-down disclosures that will be required in certain municipal securities trade confirmations. The new materials - which follow recently updated FAQs - provide additional guidance for complying with new rules scheduled to take effect May 14, 2018.

The new materials address amendments to (i) MSRB Rule G-15, which will require dealers to disclose more information on retail customer confirmations for principal transactions, and (ii) MSRB Rule G-30, which provides guidance on the determination of the prevailing market price for the purpose of determining mark-ups and mark-downs. The rule amendments are intended to improve cost transparency for municipal security transactions.

The resources are available at the MSRB's free online Education Center.