MSRB Request for Comment on “Not Reoffered” Designation

On March 13, the MSRB requested comment on a proposal to prohibit brokers, dealers, and municipal securities dealers from using the term “not reoffered” or “NRO”, which indicates that certain maturities of a new issue are not offered to investors, in any written communication unless it also includes the initial offering price or yield information about the municipal securities.  Comments are due by April 10.  MSRB Release.  Request for Comment.