Today, a group of BDA Municipal Bond Division and Legal & Compliance leadership hosted a call with the MSRB to discuss the unique challenges dealers are encountering because of the volatility in the market and the move to work from home for many market participants. The MSRB shared its focus during these challenges, which primarily focuses…
Author: rcrodriguez
MBFA’s 2019 Mid-Year Advocacy Report
BDA Seeks Feedback on SEC FIMSAC’s TRACE Pilot Program Recommendation
The SEC and FINRA are considering the FIMSAC’s recommendation and could choose to adopt it with a formal proposal at any time. Please let BDA staff know as soon as possible if your firm has a position or concern regarding the TRACE pilot. As you may know, at its April 9, 2018 meeting, the SEC’s Fixed…
The 2019 National Municipal Bond Summit hosted by the BDA and Bond Buyer Event Recap
The BDA, in partnership with the Bond Buyer, held its Annual National Municipal Bond Summit at the Renaissance Nashville Hotel in Nashville, TN on March 25-27. The Summit offered market leaders the opportunity to meet and network with senior issuers, state and local officials, as well as transaction participants from across the country. The Summit featured…
BDA Hosts Capitol Hill Infrastructure Fly-in and Congressional Briefing
Yesterday (March 12, 2019), the BDA in partnership with Build America Mutual, hosted a Capitol Hill fly-in to discuss the importance of tax-exempt municipal bonds in the financing of our nation’s infrastructure. The day began with a breakfast briefing titled, “Infrastructure Financing and Municipal Bonds.” The briefing featured BDA members Ronald Bernardi, Bernardi Securities, and Stephen…
BDA’s 10th Annual National Fixed Income Conference is OPEN for Registration
The one true business conference of the year focused on the US fixed income markets – institutional, retail, municipal and taxable. Join over 200 industry leaders from middle-market, regional and small broker-dealers and banks for keynotes and panel presentations on the pressing issues impacting the US fixed income markets. Likely Topics of Discussion: Regulatory…
UPDATE: SEC Votes to Move Forward with “Fiduciary” Rule
On April 19, 2018, the SEC approved by a vote of 4-1 (Commissioner Stein voted no) to advance two proposed rules and an interpretation to address the ”fiduciary” rule/best interest standardard. They include the following: Regulation Best Interest Rule Form CRS Relationship Summary Rule Investment Adviser Interpretation The proposed Regulation Best Interest Rule requires broker-dealers to comply…
BDA SUBMITS COMMENT LETTER: FINRA Requests Comment on the Application of Certain Rules to Government Securities and to Other Debt Securities More Broadly (Regulatory Notice 18-05)
On March 9, 2018, the BDA submitted a letter to FINRA in response to Regulatory Notice (18-05) requesting comment on the Application of Certain Rules to Government Securities and to Other Debt Securities More Broadly. You can view our final comment letter here. The comment letter outlines that: The BDA believes that the application of the…
FINRA Proposes Changes to the Securities Industry Essentials Examination
To eliminate duplicative testing of general securities knowledge on the current representative-level qualification examination, FINRA has recently filed with the Securities and Exchange Commission a proposed rule change to restructure its representative-level qualification examination program. View the notice here. When the rule proposal is officially filed with the SEC and published in the Federal Register a 21-day…