In a report titled "Issuer Considerations for Distributing Bonds: Establishing Priority of Orders," the MSRB offered an overview of how the prioritization of orders is determined and documented, and emphasized that "[i]ssuers are free to structure the priority of orders in any manner they see fit in light of their goals and objectives for the offering."

The MSRB examined potential causes of recent increases in secondary market customer costs for fixed-rate municipal securities. The rise in these costs, as measured in effective spread, reversed a consistent downward trend for over a decade.

In its quarterly Board of Directors meeting, the MSRB voted to approve rule amendments to shorten the time allowed for post-trade reporting.

The MSRB adopted amendments to its rules on uniform practice and confirmation, clearance and settlement to "define regular-way settlement for municipal securities transactions as occurring one business day after the trade date" and to align with recent SEC rule amendments to shorten the settlement cycle.

A broker-dealer settled FINRA charges for failing to monitor conflicts of interest related to the sale of bonds to a bank affiliate.