Both the BDA and C-Suite Leaders Submit Comments with the SEC Today, following extensive work with the BDA working group, BDA policy committees, and outside counsel Nixon Peabody and Davis Polk, the BDA submitted two letters in opposition to the SEC request for comment . The BDA comments, which can be viewed here, argue that the Commission…
Author: Bond Dealers of America
BDA Draft Letter to FINRA on Corporate Syndicate Settlement Period
Please see attached a draft letter from the BDA to FINRA, asking FINRA consider amendments to Uniform Practice Code Rule 11880, to reduce the period to settle corporate syndicate accounts from 90 days to a shorter time period. BACKGROUND: FINRA Uniform Practice Code Rule 11880 stipulates that corporate underwriting syndicates must be settled no later…
FINRA Files for 4210 Effective Date Extension to March 2021
FINRA has filed with the SEC a proposed rule change to extend (to March 25, 2021) the implementation date of the amendments to FINRA Rule 4210 (margin requirements). This delay, as well as certain changes to the amendments, are in line with BDA’s advocacy efforts and we appreciate all BDA members who helped drive those…
BDA Continues to Lead Industry Pushback on the PFM and NAMA Requests to Avoid Broker-Dealer Regulation
Since learning of the October 2018 request from advisory firm PFM in late spring, the BDA has lead industry efforts to push back against the initial request and subsequent efforts from NAMA. Below, is a recap of all BDA advocacy activity, including meeting recaps and an overview of the 3 letters submitted to the SEC.…
Event Recap: BDA’s 11th Annual National Fixed Income Conference
Thank you to all attendees, sponsors, and exhibitors for helping make our 11th annual National Fixed Income Conference our strongest yet! A detailed summary of the conference is below. Please reach out with any questions or comments. We need your feedback to ensure we continue building a conference with the right topics and speakers —…
Event Recap: Fixed Income Legal & Compliance Roundtable October 23rd – Chicago, IL
On Wednesday, October 23, 2019, BDA held the Fixed Income Legal & Compliance Roundtable, hosted by BDA member firm Quarles & Brady. Over 30 attendees participated in this roundtable at which member firms discussed pressing regulatory and legal issues, shared examination experiences and networked at dinner. Full recap below. Please contact us with any questions or…
Event Recap: Public Finance Leadership Roundtable October 24th – Chicago, IL
On Thursday, October 24th, the BDA held its Public Finance Leadership Roundtable in Chicago, IL, which was sponsored by Build America Mutual and Lumesis. The Roundtable was attended by over 25 representatives at BDA member firms, which provided a venue for information sharing and discussion on the most recent market and regulatory topics. At the…
BDA 3Q Update – Advocacy & Representation of Member Firms
BDA Continues Aggressive Advocacy on Non-Dealer MA Request of SEC
After much consultation with the BDA Municipal Division and Legal and Compliance Committee leadership, along with BDA outside counsel-Nixon Peabody and Davis Polk, the BDA has submitted a letter to the SEC opposing the recent requests for guidance regarding private placement activity by non-dealer municipal advisors, while providing framework on potential relief at the request of Commissioner…
BDA Launches Affiliate Member Division – Through Partnership with Hilltop Securities
We are pleased to announce the BDA Affiliate Member Division, through direct partnership with HilltopSecurities, where we immediately add 50 new member firms to more comprehensively represent Main Street broker-dealers headquartered nationwide. The firms active in the Affiliate Member Division are regional broker-dealers of a certain size that also clear through a BDA member firm. …