Blog
MSRB Reminds Municipal Advisors of September Deadline to complete Series 50 Exam
As summarized below, the MSRB recently issued a reminder to remind member firms that engage in municipal advisory activities of the obligation to ensure that every Associated Person with your firm that engages in municipal advisory activities is appropriately qualified. Specifically, Associated Persons who engage in municipal advisory activities on behalf [...]
Solicitor Municipal Advisors Rules
As summarized below, the MSRB recently provided guidance regarding the application of several of the most important MSRB rules applicable to municipal advisors that undertake the solicitation of a municipal entity or obligated person. Because much of the content of this notice applies to municipal advisors generally, the guidance provided [...]
Safe Harbor: Equity and Debt Research Rules for Desk Commentary
As summarized below, FINRA is currently seeking comment on proposed amendments to FINRA Rule 2241 and FINRA Rule 2242 to create a limited safe harbor for specified brief, written analysis distributed to eligible institutional investors that comes from sales and trading or principal trading personnel but that may rise to [...]
FINRA Requests Comment on Proposed Amendments to the FINRA Corporate Financing Rule
As summarized below, FINRA is currently seeking comment on proposed amendments to FINRA Rule 5110 (Corporate Financing Rule – Underwriting Terms and Arrangements) to make substantive, organizational and terminology changes to the rule. carngearThe proposal is intended to modernize Rule 5110 and to simplify and clarify its provisions. The rule [...]
T+2 Settlement Cycle for Transactions in Municipal Securities
As summarized below, the MSRB recently announced the effective date of amendments to MSRB Rules G-12, on uniform practice, and G-15, on confirmation, clearance, settlement and other uniform practice requirements with respect to transactions with customers, to define regular-way settlement for municipal securities transactions as occurring on a two-day settlement [...]
Rule change related to Registration and Continuing Education
As summarized below, FINRA recently filed with the SEC a proposed rule change to adopt, with amendments, the NASD and Incorporated NYSE rules relating to qualification and registration requirements as FINRA rules in the Consolidated Rulebook. The proposed rule change also restructures the current representative-level qualification examinations and creates a [...]