SEC Office of Municipal Securities Director Rebecca Olsen discussed the importance of adequate disclosures in the municipal securities market for retail investors.

The National Futures Association charged an introducing broker and two of its associated persons with misusing customer block order information in a trading scheme to enrich themselves.

The MSRB proposal to amend Rule G-3 to establish additional qualification requirements for municipal advisor principals was published in the Federal Register. Comments on the proposal must be submitted by October 30, 2018. As previously covered, the proposed amendments would (i) establish the Municipal Advisor Principal Qualification Examination (the "Series 54 examination") and (ii) require those persons who meet the definition of a municipal advisor principal to pass the Series 54 examination prior to becoming municipal advisor principals.

The U.S. Department of the Treasury Office of Foreign Assets Control extended the expiration date by issuing revised general licenses under the Ukraine-related sanctions regulations. General License 13E, which replaces General License 13D, authorizes certain transactions necessary to divest or transfer debt, equity or other holdings in certain blocked persons as they relate to EN+ Group PLC, GAZ Group and United Company RUSAL PLC. Transactions authorized by this General License involving EN+ Group PLC or United Company RUSAL PLC (or entities in which those persons own a 50 percent or greater