MSRB Proposes Amendments to CUSIP Application Process
The MSRB proposed to amend MSRB Rule G-34 ("CUSIP Numbers, New Issue and Market Information Requirements") to better align the requirements for applying for a CUSIP number with the actual process for obtaining one. The comment deadline for the proposed rule change is August 3, 2022.
CUSIP numbers are used to identify registered stocks, government and municipal bonds, ETFs and mutual funds. The proposed "minor" amendments would:
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provide that CUSIP applications should be submitted only to a board's designee;
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allow municipal advisors a more flexible timetable to apply for a CUSIP; and
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authorize the board's designee to determine the necessary information required in a CUSIP application.
The rule would take effect 45 days from publication of the approval in the Federal Register.