SEC Seeks Comment on MSRB Proposed Brokerʼs Broker Rules

March 23, 2012
Client Alert

The Securities and Exchange Commission recently released a notice of proposed Municipal Securities Rulemaking Board rule changes governing the conduct of brokerʼs brokers. The proposed definition of “brokerʼs broker” generally includes a broker, dealer, or municipal securities dealer that principally effects transactions for other broker-dealers or that holds itself out as a brokerʼs broker.  

Comments on the proposal are due 21 days from publication in the Federal Register, which has not yet occurred. The MSRB requested that the proposed rule changes be made effective six months after approval by the SEC. 

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