The MSRB proposed updates to its by-laws to reflect recent amendments to MSRB rules on membership and governance.
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The CFTC Market Risk Advisory Committee addressed LIBOR reform initiatives and efforts to develop the Secured Overnight Financing Rate as a viable alternative rate.
At a quarterly board meeting, the MSRB Board of Directors examined initiatives regarding municipal advisor and dealer rulemakings and market disclosure issues.
The Board of Directors of the MSRB ("MSRB") held a quarterly meeting in which it continued to develop a baseline qualifying examination for individuals who engage in municipal advisory activities. The planned exam will cover the role and responsibilities of municipal advisor professionals, as well as the relevant rules that govern those activities. If approved, a pilot Series 50 municipal advisor exam will be administered later this year, and a permanent exam is expected to be in place by 2016. The MSRB stated that it will submit a study outline for the exam to the SEC for approval if the SEC
The MSRB announced that its Board of Directors will convene from January 28 to January 30, 2015 to discuss various rulemaking topics. Topics to be discussed at the meeting will include: the professional qualifications of municipal advisors; gift giving by municipal advisors; and price reference information. S ee: MSRB Announcement.