The Municipal Securities Rulemaking Board recently requested comment on whether to require dealers to seek “best execution” of customer orders for municipal securities and provide detailed guidance to dealers on how best execution concepts would be applied to municipal securities transactions. The MSRB is not currently proposing a specific rule governing best execution but is instead seeking comments on the general concept of establishing a best execution standard for municipal securities. Comments will assist the MSRB in determining whether to propose best execution rules in the future.
