BDA and Nixon Peabody have released an Issue Price Summary Document to assist BDA members in engaging issuer clients in conversations about the new issue price rules, which are effective on June 7th. The BDA / Nixon Peabody document is designed to provide an overview of the new issue price rules, including important new definitions…
Author: Bond Dealers of America
BDA Submits Fiduciary Duty Comment Letter: Comments on the Presidential Memo
BDA Comment Letter on the Presidential Memo on the Fiduciary Duty Rule Today, the BDA submitted a comment letter that is focused on the questions raised by President Trump’s February 3rd memorandum. Comment Letter Summary In response to the issues raised in the Presidential Memo, the BDA’s comment letter states that the rule will unnecessarily restrict access to fixed-income…
FTN Financial Joins the BDA
We very pleased to announce that FTN Financial is the newest member of the Bond Dealers of America. The BDA now represents 69 firms headquartered nationwide and continues to be the primary voice in Washington, DC when advocating for the interests of fixed income dealers whose primary focus is the US capital markets. The addition of FTN makes…
BDA Submits Comment Letter: Amendments to MSRB G-34 on CUSIPs
BDA submitted a comment letter, available here, in response to MSRB’s request for comment on draft amendments and clarifications to Rule G-34 on obtaining CUSIP numbers. The draft letter focuses on the following: The Draft Amendments will not permit issuers to issue and investors to purchase privately placed municipal securities without CUSIP numbers even though there are good…
BDA Comment Letter: MSRB Request for Comment on Amendments to MSRB G-21 and Advertising Standards for Municipal Advisors (MSRB G-40)
The MSRB has released a request for comment on proposed amendments to MSRB G-21 standards applicable to dealers and to establish proposed MSRB G-40, an advertising standard for municipal advisors. BDA’s comment letter is here. BDA Comment Letter Summary BDA urges the MSRB to harmonize MSRB G-21 with FINRA 2210, which has different requirements for retail, institutional, and correspondence…
BDA Comment Letter to DOL on Proposed 60-Day Delay to Applicability Date of the Fiduciary Duty Rule
The Department of Labor proposed a 60-day delay to the applicability date of the fiduciary duty rule. Comments on the 60-day delay were due by Friday, March 17th. The BDA comment letter is here. BDA Comment Letter Summary BDA expresses support for the 60-day delay and recommends a longer, 180-day delay BDA notes that the Labor Department’s economic cost-benefit…
The BDA Announces the 2017 Board Of Directors
To view the 2017 Board of Directors, click here.
Moreton Capital Markets Joins the BDA
The BDA pleased to announce that Moreton Capital Markets is the newest member of the Bond Dealers of America, participating in the BDA’s newly formed Small Firm Division. The addition of Moreton and their professionals focused on the US fixed income markets makes the BDA a deeper, stronger and more effective trade association when advocating for and representing the interests…
Municipal Bonds for America (MBFA) 2016 End of Year Report
In 2016, the Municipal Bonds for America (MBFA) Coalition increased its advocacy efforts as tax reform discussions became an increasing focus on the campaign trail and Capitol Hill. As Washington enters into a new congress, the MBFA will continue to educate the Administration and Congress on the reasons why municipal bonds will always be the simplest and…
BDA Launches Small Firm Division
The BDA, in partnership with Hilltop Securities Clearing, is pleased to announce the formation of the BDA’s Small Firm Division which will provide direct, tangible advocacy for smaller broker-dealers and banks active in the US fixed income markets and which, until today, had no voice and no representation in Washington, DC. It’s time Federal policy…