The Municipal Securities Rulemaking Board (MSRB) today announced the effective date for amendments to MSRB Rule G-15 on confirmation, clearance, settlement and other uniform practice requirements with respect to customer transactions, and Rule G-30, on prices and commissions, to require municipal securities dealers to disclose mark-ups and mark-downs to retail customers on certain principal transactions, and to provide dealers guidance on prevailing market price for the purpose of determining mark-ups and mark-downs and other Rule G-30 determinations. The new disclosure requirements and prevailing market price guidance will become effective on May 14, 2018, approximately 18 months from the date of Securities and Exchange Commission approval of the amended rule. Read the regulatory notice.
The MSRB will host a free educational webinar about the rule changes and guidance on Thursday, January 12, 2017 at 3:00 p.m. to 4:00 p.m. ET. Continuing professional education credit is available.