Secondary Market Liquidity

MSRB Seeks SEC Approval for Broker’s Brokers Rule

On March 5, the MSRB requested approval from the SEC to put in place a new rule that would: (i) establish specific obligations for firms that provide secondary market liquidity for municipal securities retail investors and (ii) increase the duties of dealers that use these firms.  The MSRB expects the rules to be effective six months after approval by the SEC.  MSRB Release.  Rule Proposal.