The MSRB issued an interpretive notice concerning the "Time of Trade Disclosure" rule, stating that a municipal security bearing a market discount is material information and must be disclosed.
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The SEC approved MSRB and FINRA proposals requiring securities dealers to disclose the compensation received in transactions with retail investors.
The SEC extended the 45-day review period for a FINRA proposal requiring members to disclose markups on retail customer confirmations of certain transactions in fixed-income securities. The SEC notice of designation for an extended review period was published in the Federal Register.
The CFTC simultaneously filed and settled charges with a bank for failing to create, maintain and promptly produce required confirmations for a significant number of "Exchange for Related Position" trades.
The SEC requested comments on MSRB-proposed amendments to MSRB Rules G-15 and G-30 that would require dealers to provide retail investors with "meaningful and useful pricing information" in order to help them assess the cost of their municipal bonds transactions. The request for comments was published in the Federal Register.