Rule G-44

MSRB Proposed Rule on Supervision of Municipal Advisory Activities

On August 22, the MSRB filed with the SEC proposed Rule G-44, which would require municipal advisors to establish and maintain systems to supervise the municipal advisory activities of associated persons to ensure compliance with MSRB and SEC rules. The MSRB also proposed amendments to Rule G-8 with respect to books and records and Rule G-9 with respect to preservation of records to correspond with the new rule requirements. MSRB Release.

MSRB Proposed Rule on Municipal Advisor Supervision

On May 25, MSRB proposed Rule G-44 requiring municipal advisors to adopt internal supervisory systems to ensure compliance with applicable MSRB and SEC rules. The proposed rule would establish minimum requirements for such systems, including the manner in which municipal advisory activities will be monitored and supervised. Comments must be submitted by June 24. MSRB Release. Proposed Rule.