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ARTICLE · 06 SEPTEMBER 2021

Comment Deadline Set For MSRB-Proposed Amendments To Annual Customer Notification Requirements

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Comments on the proposal must be submitted by September 10, 2021.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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An MSRB proposal  was published in the Federal Register that would narrow the scope of the annual customer notification requirements under MSRB rules on delivery of investor brochures and transactions with sophisticated municipal market professionals.

As previously covered, the amendments would limit the persons that dealers would have to notify to only those who either (i) have effected municipal securities transactions or (ii) hold a municipal securities position. If adopted, the proposal would also except dealers from making such annual notifications to sophisticated municipal market professionals, so long as the required information is available on the dealer's website.

Comments on the proposal must be submitted by September 10, 2021.

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