On August 20th, the SEC approved the Municipal Securities Rulemaking Board's proposed amendment of MSRB Rule G-34, CUSIP Numbers and New Issue Requirements, to enhance the interest rate and descriptive information currently collected and made transparent by the MSRB on municipal auction rate securities and variable rate demand obligations. The amendments require dealers to, among other things, submit to the MSRB documents that define auction procedures and interest rate setting mechanisms for ARS and liquidity facilities for VRDOs and report ARS bidding information. SEC Release No. 34-62755.