SEC Order Approving MSRB-Proposed Amendments to Rule G-3 Published (Fed. Reg.)

The SEC order granting approval of an MSRB proposal to amend Rule G-3 ("Professional Qualification Requirements") to improve the rule's "Firm Element" continuing education requirement was published in the Federal Register.

According to the MSRB, the amendments will improve the Firm Element requirement of Rule G-3 by requiring brokers, dealers and municipal securities dealers to conduct annual municipal securities training for registered representatives who regularly engage in, and municipal securities principals who regularly supervise, municipal securities activities. The rule amendments also would expand the definition of "covered registered persons" who must participate in such training to include registered persons who engage in a variety of municipal securities activities, regardless of whether or not such activities are customer-facing.

See: 79 FR 63001.Related news: SIFMA Submits Comments to SEC Regarding MSRB-Proposed Amendments to Continuing Education Requirements (August 18, 2014).