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Archive 1997
Operational Start Date for Customer Transaction Reporting,
December 29, 1997
The operational start
date of the customer transaction phase of the Board's Transaction Reporting
Program has been delayed from January 1, 1998 to March 1, 1998.
Proposed amendments to rules G-11, G-12, and G-8,
December 23, 1997
The Board has filed
with the SEC proposed amendments to rules G-11, on sales of new issue
municipal securities, G-12, on uniform practice, and G-8, on books and
records, in regard to syndicate practices.
Amendment filed to rule G-23, December
23, 1997
The Board has filed
with the SEC an amendment to rule G-23 on activities of financial advisors.
The amendment requires a financial advisor, prior to entering into a remarketing
agreement for an issue on which it advised, to disclose, in writing, to
the issuer the terms of the remuneration the financial advisor could earn
as remarketing agent on such issue and that there may be a conflict of
interest in changing from the capacity of financial advisor to remarketing
agent.
Proposed amendments to rule G-32, December
22, 1997
The Board has filed
proposed amendments to rule G-32, on disclosures in connection with new
issues, relating to dissemination of official statements to purchasing
dealers and initial offering prices of maturities not reoffered
Series 53 study outline, December
19, 1997
Effective date for revised
Series 53 study outline changed to March 1, 1998.
Amendment filed, December
18, 1997
The Board has filed
proposed amendments to rule G-37, on political contributions and prohibitions
on municipal securities business, rule G-8, on recordkeeping, and rule
G-38, on consultants
Notice of filing, December
16, 1997
The Board has established
a fee relating to the public dissemination on CD-ROM of quarterly Form
G-37/G-38 filings
Amendment Filed, revised forms G-36(OS) and G-36(ARD): December
2, 1997
The Board has filed
revised Forms G-36(OS) and G-36(ARD) and an amendment to rule G-8(a)(xv),
on recordkeeping. The revised Forms G-36(OS) and G-36(ARD) and amendment
to rule G-8(a)(xv) become operative on January 1, 1998.
Consultants Rule G-38 November
25, 1997
The Board has filed
an amendment to rule G-38, on consultants, that would give dealers the
option of disclosing their consulting arrangements to issuers, pursuant
to section (c) of the rule, on either an issue-specific or issuer-specific
basis.
Arbitration Rule G-35 November
13, 1997
The Board has filed
an amendment to its File No. SR-MSRB-97-4 relating to rule G-35.
The Board is publishing a third Question and Answer notice
concerning consultants. November
13, 1997
Question and Answer
notice concerning consultants.
Notice: October 1997
MSRB
Transaction Reporting Program Questions and Answers.
Amendments Filed: September 30,
1997
The Board has filed technical amendments to rule
G-37, on political contributions and prohibitions on municipal securities
bussiness, rule G-38, on consultants, and G-8, on recordkeeping.
Draft Amendments to Rules G-38 and G-8 and Draft Changes
to Form G-37/G-38: September 11, 1997
The Board requests comment on a draft amendment
to rule G-38, on consultants, that would require dealers to disclose their
consultants' political contributions to officials of an issuer and payments
to state and local political parties. The Board also is seeking comment
on a related amendment to rule G-8, on recordkeeping, and revisions to
Form G-37/G-38. Comments are due no later than December 15, 1997.
Additional Questions and Answers: Rule G-37 on Political Contributions
and Prohibitions on Municipal Securities Business:
September 9, 1997
The Board has published an additional question-and-answer
notice regarding rule G-37 on political contributions and prohibitions
on municipal securities business. The questions and answers address the
applicability of the rule to transition and inaugural expenses, the definition
of issuer official, the definitions of municipal finance professional
and executive officer, and reporting by syndicate members.
Rule G-35: Arbitration: May 22, 1997
The Board has filed an amendment to its Arbitration
Code (rule G-35) to state that it will not accept any new arbitration
claims filed on or after January 1, 1998, and that as of that date every
bank dealer shall be subject to the NASD's Code of Arbitration Procedue.
Rule G-38: Consultants: May 21, 1997
The Board requests comment on a draft amendment to
rule G-38 that would give dealers the option of disclosing information
on their consulting arrangements to issuers on either an issue-specific
or issuer-specific basis.
Text of Proposed Rule & Forms G-36 (OS) &
G-36(ARD)
Proposed Change Filed to Establish a Fee Relating to the
OS/ARD Subsystem: May 19, 1997
The Board has filed a proposed change to establish
a fee relating to the operation of its OS/ARD subsystem of the MSIL system.
From the Chairman
The Board is publishing Chairman Roger Hayes' letter
to the municipal securities industry
Rule G-32: Notice of the Draft Amendments
As announced after its February
1997 meeting, the MSRB has determined to withdraw the draft amendment
to Rule G-32, on disclosure in connection with new issues.
Rule G-39: Telemarketing Rule Approved
Rule G-39 and amendments to rules G-21, G-8 and
G-9 concern telemarketing requirements with respect to the municipal securities
activities of brokers, dealers and municipal securities dealers.
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