MSRB Regulation of Broker’s Brokers

On June 25, the SEC approved (i) MSRB Rule G-43 establishing obligations for municipal securities dealer firms that act as “broker’s brokers” and (ii) interpretative guidance on the duties of dealers that use such firms. The rule and interpretive guidance will be effective on December 22. MSRB Release. MSRB Rule. MSRB Guidance.