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BDA in the News: Volcker Rule May Adversely Impact Munis.

Clarity in the definition of market maker for fixed-income securities is important primarily because a clearer rule will encourage more dealers to take the risks associated with making a market and thus provide investors with greater liquidity. That greater liquidity will, in turn, foster a more efficient market and better allocation of resources.

The BDA has already contacted the SEC regarding a revision of the market maker definition. ¬†Click here for the BDA’s letter to the SEC.

The Bond Buyer article can be found here.

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