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MSRB moving forward on muni adviser rules
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Banking, Investor Protections
Friday, January 24, 2014
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The panel charged with building a new regulatory framework to police municipal advisers released a key proposal outlining the duties of advisers who provide advice on municipal securities transactions and related products. The proposal —released on Jan. 9 by the Municipal Securities Rulemaking Board (MSRB) — aims to reduce conflicts of interest and ensure that municipal advisers exercise due care and make only informed and suitable recommendations to their clients. However, an industry group was quick to raise concerns about the draft rule.
Comments on the proposed rule, known as Draft Rule G-42, are due by March 10.
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