MSRB-Proposed Rule Regarding Best-Execution for Municipal Securities Transactions Published (Fed. Reg.)

The MSRB proposal to add Rule G-18, which would establish the explicit requirement that municipal securities dealers seek the most favorable price possible when executing transactions for retail investors, was published in the Federal Register. The proposal also includes amendments to Rule G-48 ("Transactions with Sophisticated Municipal Market Professionals") and Rule D-15 ("Sophisticated Municipal Market Professional").

The MSRB requested that the proposed rule change be approved with an implementation date one year after the SEC approval date. Comments on the proposal are due by September 29, 2014.

See: 79 FR 53236.
Related news: MSRB Requests SEC Approval to Establish Best-Execution Rule for Municipal Securities Transactions (with Lofchie Comment) (August 20, 2014).