In its letter to the MSRB regarding Annual Planning for 2014, the BDA said, “Considering that the MSRB is the sole regulator governing the municipal markets, we urge the MSRB to apply both formal and informal influence on the SEC to issue a final definition of municipal advisor. We believe it is most important that this definition be finalized so that currently unregulated industry participants better serve the municipal market by becoming subject to the type of regulatory structure and oversight that already covers broker-dealers.”
View the full article in the Bond Buyer [here.]
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