MSRB Requests Comment on Proposed "Best Execution" Standard for Munis

The MSRB seeks public comment on whether to require a broker, dealer, or municipal securities dealer to seek "best execution" of customer orders for municipal securities. The proposed rule would augment the existing requirements to trade at fair and reasonable prices. In addition, the MSRB is interested in commentary that could provide detailed guidance to dealers on how "best execution" concepts would be applied to municipal securities transactions. Comments should be submitted no later than October 7, 2013.

See: MSRB Notice 2013-16.See also: SIFMA Proposes "Execution with Diligence" Standard for Munis Trading (with Lofchie Comment)