Event Recap: Market Structure Fly-In Washington, DC

This week, the BDA hosted a market structure fly-in discussing key fixed-income topics with regulators and Hill staff. The fly-in is part of a quarterly series of policy focused events in Washington DC, bringing together groups of BDA membership with regulators and Capitol Hill decision makers.

BDA Firms represented include:

  • US Bank
  • HilltopSecurities
  • RBC Capital Markets
  • Crews & Associates
  • Solve

The BDA met with representatives from the MSRB, FINRA and the SEC Offices of Municipal Securities and Trading & Markets.

Key regulatory topics discussed include:

  • 1-minute trade reporting
  • MSRB Rate Card
  • Pre-trade transparency
  • FINRA 24-02-remote work and supervision
  • FINRA Rule 4210 Implementation

As Capitol Hill turns it attention to the expiration of many provisions of the 2017 Tax Cuts and Jobs Act in 2025, the BDA took to the Hill to meet with Senate Finance Committee Majority and Minority staff and legislative staff for Senator Roger Wicker (R-MS), sponsor of the LOCAL Infrastructure Act that would fully reinstate advance refundings.

Key Legislative topics include:

  • Promotion of municipal bonds and the tax exemption
  • Restoration of advance refundings
  • Raising the BQ limit and indexing to inflation

If you are interested in participating in future fly-in’s, please let us know.  We hope this information is valuable. Please contact the BDA if you have any questions.

Brett Bolton at bbolton@bdamerica.org.

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