MSRB proposes suitability standard for muni advisers

08/25/2011 | Bond Buyer (free content), The

The Municipal Securities Rulemaking Board proposed a rule that would require municipal advisers to ensure, in their professional judgment, that products and transactions are suitable for their clients. The board revised the language of the proposal "to align what SIFMA suggested might be potentially conflicting regulatory regimes." Leslie Norwood, co-head of the municipal securities division at SIFMA, said the group would continue to study the proposed rule. SIFMA just announced that Connecticut Gov. Dannel Malloy will be the keynote speaker at SIFMA's Municipal Bond Summit. Register today. Read SIFMA's comment letter on Fiduciary of Municipal Advisors and the Application of MSRB G-17 to Municipal Advisors. Read SIFMA's comment letter on the Application of MSRB Rule G-17 to Underwriters of Municipal Securities.

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