May 6, 2016 •
Amended MSRB Rule G-20 Effective Today
Today, amendments to a Municipal Securities Rulemaking Board (MSRB) conflict-of-interest rule concerning gifts and gratuities take effect. MSRB Rule G-20 includes restrictions limiting gifts to $100 for municipal advisors giving gifts to employees of entities engaged in municipal securities activities. […]
Today, amendments to a Municipal Securities Rulemaking Board (MSRB) conflict-of-interest rule concerning gifts and gratuities take effect. MSRB Rule G-20 includes restrictions limiting gifts to $100 for municipal advisors giving gifts to employees of entities engaged in municipal securities activities. Municipal advisors are also prohibited from receiving reimbursement of entertainment expenses from the proceeds of an offering of municipal securities. The rule is intended to protect against improprieties and conflicts of interest arising when regulated entities give gifts related to the municipal securities or municipal advisory activities of the recipients’ employers.
February 17, 2016 •
MSRB Extends Pay-to-Play Rule to Municipal Advisors and Third-Party Solicitors
Today, the Municipal Securities Rulemaking Board (MSRB) announced new pay-to-play regulations, extending current pay-to-play rules to municipal advisors, including those acting as third-party solicitors. “The integrity of the municipal market will be well-served by regulations to help ensure that all […]
Today, the Municipal Securities Rulemaking Board (MSRB) announced new pay-to-play regulations, extending current pay-to-play rules to municipal advisors, including those acting as third-party solicitors. “The integrity of the municipal market will be well-served by regulations to help ensure that all municipal advisors that do business with state and local governments do so based on the merits of their work and not on financial influence,” said MSRB Executive Director Lynnette Kelly in a press release. The new regulations take effect on August 17.
September 3, 2015 •
MSRB Seeks Approval from SEC for Gift Rule Amendments
On September 2, the Municipal Securities Rulemaking Board (MSRB) requested approval from the Securities and Exchange Commission (SEC) for amendments to MSRB Rule G-20, a conflict-of-interest rule concerning gifts and gratuities. The proposed amendments include limiting gifts to $100 for […]
On September 2, the Municipal Securities Rulemaking Board (MSRB) requested approval from the Securities and Exchange Commission (SEC) for amendments to MSRB Rule G-20, a conflict-of-interest rule concerning gifts and gratuities. The proposed amendments include limiting gifts to $100 for municipal advisors giving gifts to employees of entities engaged in municipal securities activities. The new rules for municipal advisors also would prohibit receiving reimbursement of entertainment expenses from the proceeds of an offering of municipal securities.
“Amending the MSRB’s existing gifts rule would ensure common standards for dealers and municipal advisors that all operate in the municipal securities market,” said MSRB Executive Director Lynnette Kelly in a press release.
September 30, 2011 •
MSRB Rule G-37 Reminder
Municipal Securities
The Municipal Securities Rulemaking Board (MSRB) has issued a reminder regarding the application of rule g-37 to federal election campaigns of issuer officials.
In the notice, the MSRB reminds “brokers, dealers and municipal securities dealers” of prohibitions outlined in previous MSRB guidance notices, which highlight the rules and prohibitions concerning solicitations and contributions for certain state and local officials seeking election to federal office.
Generally, issuer officials are directly or indirectly responsible for, or can influence the outcome of, the hiring of a broker, dealer or municipal securities dealer for municipal securities business.
The reminder can be found here.
December 9, 2010 •
News You Can Use from the MSRB
The regulatory board releases a statement regarding municipal entities and advisors who have made political contributions.
Following a recent meeting, the Municipal Securities Rulemaking Board issued a request for comment on a rule regulating the business activities of municipal advisors with municipal entities when they have made political contributions to officials responsible for awarding that business.
You can read the press release from the MSRB here.
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