Today, BDA, along with other advocacy groups, sent a letter to the MSRB offering suggestions which we believe would enhance the ability of issuers and users to better utilize the MSRB’s EMMA system. You can view the final letter here Specifically, the letter focus on the following areas: Searchability Ease of data input and uploading Improving…
Author: Bond Dealers of America
BDA 2016 Year in Review
New York Federal Reserve Staff Report on Regulation and Bond Market Liquidity
Recently, the New York Fed issued a staff report about the relationship between increased regulation and bond market liquidity entitled, Dealer Balance Sheets and Bond Liquidity Provision. The full report can be accessed here. The authors conclude that new bank regulatory constraints faced by the most active bond traders in the market have impacted bond market liquidity.…
BDA to Submit Petition for SEC Rulemaking: Amendments to Form ADV
Today, BDA will submit a letter that petitions the SEC to engage in a rulemaking to amend Form ADV. BDA’s recommendations, if adopted, would make client prospecting more efficient for dealer sales personnel. BDA’s Recommended Changes: BDA’s letter recommends three changes to Form ADV: Recommendation 1: Harmonize the client and client-related asset under management percentages in Item 5, section…
BDA Submits Comment Letter to the SEC on MSRB Customer Complaint and Record Keeping Rule Amendments
BDA Submits Comment Letter to the SEC on MSRB Customer Complaint and Record Keeping Rule Amendments On December 9, 2016, BDA submitted a comment letter to the SEC on the proposed amendments that the MSRB filed to MSRB Rules G-8, G-9, G-10, and G-32 with the SEC. BDA Letter Summary: BDA argues that MSRB should have published…
BDA Submits Comment Letter to the SEC on its Proposed Amendment to Shorten the Settlement Cycle to T+2
Today, BDA submitted its comment letter to the SEC on its request for comment on a proposed amendment to Rule 15c6-1(a) to shorten the settlement cycle from T+3 to T+2 and is designed to reduce systemic risk for U.S. market participants. You can view the BDA’s letter here. BDA’s Letter: Requests that the SEC work with…
Ways & Means Committee Update Rep. Neal Likely to be Top Democrat
With the Federal elections over, and the new administration taking shape, we want to keep you updated with key shifts in power happening in DC. Rep. Richard Neal (D-MA) looks increasingly likely to to become the next Ranking Member of the Ways & Means Committee in the House of Representatives. Mr. Neal has been a…
BDA Featured in The Hill: Bonds are a Fair and Responsible Way to Finance Projects
The BDA submitted a post as a member of the Municipal Bonds for America (MBFA) Coalition, highlighting the importance of tax-exempt municipal bonds as a viable solution for project finance, which was featured in the Hill’s Congress Blog. BDA is a founding member of the MBFA. You can read a copy of the article here.…
BDA Submits Comment Letter to MSRB on Long-Term Strategic Priorities
On November 10, 2016, BDA submitted a comment letter to the MSRB on its request for comment on its long-term priorities and initiatives related to its core activities and goals to promote a fair and efficient municipal market. You can view MSRB’s request for comment here. MSRB requested feedback from market stakeholders on areas where it should…
BDA adds 9 new members in first half of 2016
Advisors Asset Management American Municipal Securities Roosevelt & Cross U.S. Bank DPC DATA Municipal Bond Information Services The Karn Group Trumid Morgan Lewis