The BDA submitted a comment letter to the MSRB in response to a concept proposal relating to potential additional protections for individual investors effecting transactions through electronic brokerages when recommending municipal securities transactions to individual investors.
In it’s letter, the BDA said that it supports the MSRB’s efforts to remind dealers that operate as electronic brokerages of their fair dealing and fair pricing obligations and suitability obligations when making recommendations about municipal securities, but that there remain concerns that the proposal might create additional and unnecessary burdens on electronic brokerages, without commensurate benefits in the form of protections for investors in municipal securities.
To read BDA’s full comment letter, click [here.]
