Also In This Issue
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In This IssueNotice and Draft Interpretive Guidance on Rule G-17—Disclosure of Material Facts and Interpretive Guidance Concerning Sophisticated Municipal Market ProfessionalsRequest for Comments The MSRB is seeking comment on a notice covering two related concepts. The first is draft interpretive guidance on rule G-17—disclosure of material facts; the second is draft interpretive guidance concerning the application of MSRB rules to transactions with sophisticated municipal market professionals. MSRB Review of Rule G-37Request for Comments The MSRB is requesting comments on all aspects of rule G-37, on political contributions and prohibitions on municipal securities business. Municipal Fund Securities—Qualification of Municipal Securities Principals and Application of MSRB Rules to Fees, Disclosure and Other Market PracticesNotice of Filing and Comments Requested The MSRB is filing a rule change with the SEC to provide a temporary alternative method for qualification of municipal securities principals in connection with municipal fund securities. In addition, the MSRB is providing guidance and requesting comments on the application of MSRB rules to fees, disclosure and other market practices relating to municipal fund securities. Real-Time Reporting of Municipal Securities TransactionsComments Requested The MSRB has announced its schedule for real-time reporting of municipal securities transactions and is requesting comments on planned operational aspects for mandatory dealer submission of trade data in real time. Amendments Filed: Rule G-36 The MSRB has filed a proposed rule change with the Securities and Exchange Commission to institute an optional system of electronic submissions by underwriters of official statements, advance refunding documents and Forms G-36(OS) and G-36(ARD) to the MSRB. The MSRB expects the electronic system to become operational on the later of January 1, 2002 or 60 days after SEC approval. In-Firm Delivery of the Regulatory Element of the Continuing Education RequirementAmendments Filed: Rules G-3, G-8, G-9 and G-27 The proposed amendments will allow dealers to provide in-firm delivery of the Regulatory Element of the continuing education requirement as an alternative to having persons take the training at vendor locations. Dissemination of Official Statements and Advance Refunding Documents By Issuers and Dealers from 1998 to 2000Notice The MSRB has published a notice reviewing the timeliness of dissemination of official statements and advance refunding documents by issuers and dealers during the period 1998 to 2000. |