Municipal Bond Regulator Pushes For Stricter Price Rules

Law360, New York (August 7, 2013, 4:45 PM EDT) -- The Municipal Securities Rulemaking Board on Tuesday began accepting comments on a possible new rule that would beef up requirements imposed on broker-dealers setting municipal bond prices, changes that follow long-standing concerns that investors buying and selling the securities may be paying too much.

The regulator seeks input on dealers' fair-pricing obligations to investors selling or buying state and local government bonds, and whether more stringent requirements, specifically a “best execution” rule, should be adopted. The rule, which currently applies to equity and corporate fixed-income markets,...
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