Further Technical Amendments Filed to Rule G-12, on Uniform Practice, and G-8, on Books and Records

On June 26, 2008, the MSRB filed a partial amendment to File No. SR-MSRB-2008-03 regarding amendments to Rules G-12 and G-8.  A description of the rule language in the original filing is contained in MSRB Notice 2008-16 (March 18, 2008).  The technical amendments are intended to provide greater clarity as to a broker, dealer or municipal securities dealer’s existing obligations with respect to syndicate or joint accounts, and do not add any new requirements or effect a change in the operation of the rules.

Questions about this notice may be directed to Ronald W. Smith, Senior Legal Associate, at 703-797-6721.

June 27, 2008

TEXT OF AMENDMENTS [1]

Rule G-12:  Uniform Practice

(a)-(h) No change.

 (i) Settlement of Syndicate, Joint or Similar Account. Final settlement of a syndicate, joint or similar account formed for the purchase of securities shall be made within 60 days following the date all securities have been delivered by the syndicate or account manager to the syndicate or account members.

(j) No change.

*  *  *  *  *

Rule G-8:  Books and Records to be Made by Brokers, Dealers and Municipal Securities Dealers

(a)-(a)(vii) No change.

(a) (viii) Records of Syndicate Transactions. With respect to each syndicate, joint or similar account formed for the purchase of municipal securities, records shall be maintained by a managing