Municipal bond broker-dealers will get a collective rebate of $3.6 million from the Municipal Securities Rulemaking Board, which collected the amount in excess of funds needed for technology fees. "The technology fund provides the resources required to maintain critical systems relied upon by the municipal securities industry," said Lynnette Kelly, executive director of the MSRB. "However the fund has now reached its targeted level and future technology needs are not projected to exceed funding levels. So it is only fair to return the excess to the entities that paid those fees."
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