The research firm Municipal Market Advisors Inc. changed its name to Municipal Market Analytics Inc., in an effort to highlight its independence, according to a memo from president and founder Tom Doe.
Leadership, staff and contact information will remain the same at the Concord, Massachusetts-based firm, Doe said in the memo dated today. The company prepares market outlook pieces for bond buyers and municipal officials, and tallies first-time defaulters in the $3.6 trillion market.
“We wanted to establish that there was no confusion regarding our role as an independent research firm, where there had been, especially with the new regulations concerning municipal advisers” from the U.S. Securities and Exchange Commission, Doe said today in an interview.
With the 2010 Dodd-Frank law, Congress ushered in the first rules for municipal advisers, which took full effect last year. The main effect is firms that render advice need to act in client’s best interests.
MMA doesn’t advise issuers on specific transactions, Doe’s memo said. Its consulting and bank-credit services won’t change, he said.
Bloomberg News
By Brian Chappatta and Michelle Kaske
Jan 2, 2015 7:54 AM PT
To contact the reporters on this story: Brian Chappatta in New York at [email protected]; Michelle Kaske in New York at [email protected]
To contact the editors responsible for this story: Stephen Merelman at [email protected] Stacie Sherman