BDA Submits Comment Letter to MSRB on Proposed Changes to Rule G-34, Not Reoffered

Today, the BDA submitted a comment letter to the MSRB on proposed changes to Rule G-34, concerning the designation of “Not Reoffered” in connection with new issues of municipal securities.  In the letter, BDA wrote, “By eliminating the “not reoffered” practice by some dealers, the Proposed Rule will allow other comparable transactions to have a better sense of market movement on the day of pricing, which will create a more efficient and transparent municipal market.”

A recent article on the issue can be found in the Bond Buyer here.

BDA’s comment letter is here.

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