SIFMA Submits Comments Regarding MSRB Proposed Supervision Rules for Municipal Advisors

SIFMA submitted comments to the SEC regarding the MSRB-proposed rule change to amend supervisory and compliance obligations of municipal advisors.

In the letter, SIFMA commended the MSRB for proposing a supervisory regime that will create a "level regulatory playing field" for municipal advisors. SIFMA stated that that the draft MSRB Rule G-44 follows a widely accepted model in the securities industry for a reasonable supervisory system.

Additionally, SIFMA stated that if adopted, the MSRB should provide for a reasonable implementation period which would be no less than six months before the proposal becomes effective.

See:Comment Letter; SIFMA Press Release.See generally: Lofchie's Guide to Broker-Dealer Regulation, Supervision. Related news: MSRB Proposes Supervisory and Compliance Obligations for Municipal Advisors (Fed. Reg.) (August 5, 2014); MSRB Proposes Supervisory and Compliance Obligations for Municipal Advisors (with Lofchie Comment) (July 24, 2014).