Today, the House Committee on Ways and Means released its much anticipated tax reform package – “The Tax Cuts and Jobs Act”. The legislation maintains the tax-exemption for municipal bonds, while slashing rates for both individuals and corporations. The release can be found here. Highlights from the bill, include: The bill consolidates personal rates, maintaining the…
Author: Bond Dealers of America
BDA Business Solutions: The Karn Group
2016-17 BDA’s Federal Regulatory and Legislative Priorities and Accomplishments
The following issue list highlights the BDA regulatory and legislative priorities over the past twelve months and the noted accomplishments achieved through direct Hill and regulator lobbying and by utilizing the BDA membership through meetings in Washington, DC and at BDA roundtables and conferences throughout the year. Thanks to your time and efforts, the BDA continues to expand our presence and impact and…
MSRB: Municipal Securities – Financing the Nation’s Infrastructure
BDA Comment Letter to the DOL: Supporting an Extended Transition Period
The DOL published a proposed rule to extend the transition period for the Department of Labor Fiduciary Duty Rule. The proposal would delay the applicability dates for the Best Interest Contract Exemption and the Principal Trading Exemption until July 1, 2019. BDA Comment Letter BDA submitted a comment letter on Friday, September 15th. The letter can be…
“Why Municipal Bond Markets Matter” – OpEd – Crain’s Chicago Business by Tom Dannenberg – BDA Chair 2017
Municipal bonds are still how America gets stuff done By: TOM DANNENBERG Photo by Getty Images/iStockphoto The White House recently announced that President Trump’s Advisory Council on Infrastructure would be disbanded. This Advisory Council would have presented a unique opportunity to tell the story of how the…
BDA Advocacy 3rd Qtr – 2017
Regulatory Reform: BDA Submits Letter to U.S. Treasury Upcoming Report on U.S. Capital Markets and Securities Law & Regulation
On August 22nd, BDA submitted a letter to the Treasury Department regarding its upcoming report on U.S. Capital Markets Regulation, which is due out in the fall of 2017. The letter is here for your review. Treasury staff specifically requested BDA’s input on regulations, enforcement, and market liquidity. BDA’s letter focuses on the following issues:…
BDA FINRA Rule 4210 Letter: Competitive Concerns, Compliance Questions, and a Proposed Amendment for FINRA’s Consideration
August 8, 2017, BDA submitted a letter to FINRA to respond to its request for interpretive and compliance questions related to the FINRA 4210 margin regime for mortgage securities. BDA FINRA 4210 Letter Summary First Good Settlement Date: The letter re-submits BDA’s proposed amendment to the rule, which would re-define “Covered Agency Transaction” to exclude TBA, CMO, and…
BDA Submitted Comment Letter: DOL Fiduciary Rule
On August 7, 2017, in response to a Request for Information published by the Department of Labor, the BDA submitted a comment letter to the DOL focused on how it should amend the Fiduciary Duty Rule and the Principal Trading and Best Interest Contract Exemption. BDA Comment Letter Summary — Primary Areas of Focus The Department of Labor and the…