MSRB Requests Comment On Draft Compliance Resources For Supervisors

The MSRB requested comment on draft compliance resources to assist regulated entities in their supervision over new issue pricing of municipal securities. The MSRB stated that "the goal of the compliance resources is to enhance understanding regarding the existing regulatory standards applicable to regulated entities' supervision of conduct when pricing a new issuance of municipal securities."

One proposed compliance resource would focus on underwriting activity under MSRB Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities") and supervisory obligations under MSRB Rule G-27 ("Supervision"). The second resource would focus on duty of care obligations under MSRB Rule G-42 ("Duties of Non-Solicitor Municipal Advisors") and non-solicitor municipal advisors' duties under MSRB Rule G-44 ("Supervisory and Compliance Obligations of Municipal Advisors").