The Municipal Securities Rulemaking Board (“MSRB”) is requesting comment on a draft proposal to establish “pay to play” and related rules relating to municipal advisors and to make certain conforming changes to existing pay to play rules for brokers, dealers, and municipal securities dealers (“dealers”). Specifically, the draft proposal consists of (i) draft MSRB Rule G-42 (on political contributions and prohibitions on municipal advisory business and certain solicitations); (ii) draft amendments that would make conforming changes to MSRB Rules G-8 (on books and records), G-9 (on records preservation), and G-37 (on political contributions and prohibitions on municipal securities business); and (iii) a draft restatement of an MSRB Rule G-37 interpretive notice issued by the MSRB in 1997. The MSRB is also requesting comment on: (i) whether Rule G-38 (on the solicitation of municipal securities business) should be eliminated or amended if draft Rule G-42 becomes effective and (ii) whether the electronic filing of Forms G-42 and G-37 should be required. Comments should be submitted no later than February 25, 2011. Click the link below to view the full notice: http://www.msrb.org/Rules-and-Interpretations/Regulatory-Notices/2011/2011-04.aspx
