MSRB aims to modify rules governing retail order periods

The Municipal Securities Rulemaking Board is responding to market participant comments by trying to revise previously proposed changes to rules regarding retail order periods. SIFMA welcomes the MSRB's attention to the rules but is concerned that the revisions fail to address a requirement that dealers provide syndicate managers information through separate filings, says David Cohen, associate general counsel at SIFMA. A single master document should suffice, Cohen said. "We support the policy goals," he said. "We think there is a less burdensome way." Read SIFMA's comments to the Securities and Exchange Commission regarding the proposal to amend MSRB rules.

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