SEC Requests Comments on MSRB Rule Proposal for Non-Solicitor Municipal Advisors (Fed. Reg.)

The SEC is soliciting comments on MSRB's rule proposal to adopt Rule G-42 on duties of non-solicitor municipal advisors, and proposed amendments to Rule G-8 on books and records to be made by broker-dealers, municipal securities dealers and municipal advisors.

The proposed Rule G-42 would establish the core standards of conduct and duties applicable to municipal advisors. The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act to determine whether the proposed rule change should be approved or disapproved.

Comments on the proposal must be submitted by September 28, 2015.

See: 80 FR 48355.Related news: SEC Orders MSRB to Move to Next Phase on Core Standards of Conducts for Municipal Advisors (August 7, 2015); SIFMA Submits Additional Comments Regarding Proposed Rule Changes to MSRB Rule G-42 (June 3, 2015).