Date: August 5, 2011
Contact: Jennifer A. Galloway, Chief Communications Officer
MSRB PUBLISHES TIMETABLE OF PROPOSED MUNICIPAL ADVISOR RULE EFFECTIVE DATES
Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published a timetable of effective dates for MSRB municipal advisor rules and proposed effective dates for rule initiatives. The proposed effective dates for various rule initiatives would go into effect either when the Securities and Exchange Commission approves its final definition of “municipal advisor” or on the effective date of that definition.
“We are committed to keeping municipal advisors informed of our rulemaking initiatives and hope this timetable will serve as a resource for tracking our efforts,” said MSRB Executive Director Lynnette Kelly Hotchkiss.
Since October 1, 2010, the MSRB has been proposing rules for municipal advisors covering themes that are central to the activities of advisors and their work on behalf of state and local governments. These include rule proposals on fiduciary duty, conflicts of interest, pay-to-play and supervision, among others. Final versions of the proposals require approval by the Securities and Exchange Commission. Rules currently in place include those on registration, assessment and fair dealing, among others.
The MSRB will continue to update the timetable throughout the rulemaking process and will make it available here.
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