MSRB Seeks Comment on Regulation of Solicitor Municipal Advisors.

The MSRB requested comment on proposed MSRB Rule G-46 (“Duties of Solicitor Municipal Advisors”), which would codify previously issued interpretive guidance concerning the requirements applicable to solicitor municipal advisors under MSRB Rule G-17 (“Conduct of Municipal Securities and Municipal Advisory Activities”).

Proposed MSRB Rule G-46 would, among other things:

The proposed rule would also conform certain requirements applicable to such firms to those that apply to (i) non-solicitor municipal advisors under MSRB Rule G-42 (“Duties of Non-Solicitor Municipal Advisors”) and (ii) underwriters under MSRB Rule G-17, as they relate to the conduct of municipal securities and the activities of municipal advisors.

Comments on the proposed rule must be submitted by June 17, 2021.

Cadwalader Wickersham & Taft LLP

March 18 2021

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