BDA Submits Comments to the SEC ON MSRB Rule G-43, Broker's Brokers

Today, the BDA submitted to the SEC a comment letter on MSRB Notice of Filing of Proposed Rule G-43, on Broker’s Brokers; Proposed Amendments to Rule G-8, on Books and Records, Rule G-9, on Record Retention, and Rule G-18, on execution of Transactions; and a Proposed Interpretive Notice on the Duties of Dealers That Use the Services of Broker’s Brokers (the “Proposed Rule”).

Although the BDA is pleased with some of the items the MSRB has incorporated into its filing with the SEC, we still believe the rule is not necessary as the behaviors that the Proposed Rule are intended to address are already prohibited by other MSRB rules.

For the full comment letter, click [here.]

Additionally, the BDA submitted comments to the MSRB on an earlier version of its Proposed Rule and those comments can be found [here.]

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