This week, the National Association of Bond Lawyers (NABL) submitted comments to the Municipal Securities Rulemaking Board (MSRB) on MSRB Notice 2014-01, related to draft MSRB Rule G-42, on standards of conduct and duties of municipal advisors when engaging in municipal advisory activities other than the undertaking of solicitations. In the comments, NABL urged that “careful consideration be given to the precise language used” in the final rule “to insure that municipal advisors are clearly informed of their duties and not unduly burdened, and that the choices available to municipal entities and obligated persons in engaging municipal advisors are not inadvertently or unduly limited.”
The comments were prepared by an ad hoc subcommittee of the NABL Securities Law and Disclosure Committee and can be seen here.