Revised draft rule G-42 incorporates a number of changes made by the MSRB to the rule text based upon comments received from the industry.
Specifically, BDA’s letter focuses on:
- BDA’s support for the MSRB’s revised approach to principal transactions, with one further request for clarification;
- Review of recommendations and a request that the MSRB provide specific language that permits the use of reasonable policies and procedures in certain instances;
- Reference to Rule G-23 and a desire for further clarification; and
- Allowances for acting as Underwriter for Conduit Issuer and Municipal Advisor for Obligated Person.
You can view the full text of our letter here. For BDA’s previous letter to the MSRB on draft Rule G-42, click here. For revised draft rule language, you can click here.
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