MSRB reminds municipal advisors of Series 50 exam deadline. The Municipal Securities Rulemaking Board issued a notice to remind municipal advisor firms that individuals associated with their firms must pass the Municipal Advisor Representative Qualification Examination (Series 50 exam) by September 12, 2017, to satisfy the qualification requirement under MSRB Rule G-3. The MSRB also updated its frequently asked questions on the Series 50 exam. (5/8/2017) MSRB regulatory notice.
MSRB publishes summary of rules applicable to solicitor municipal advisors. The MSRB offered guidance to municipal advisors acting as solicitors on the regulatory framework that applies to their interactions with public pension plans and other municipal entities. (5/4/2017) MSRB press release.
FINRA publishes list of rulemaking items for consideration at May Board of Governors meeting. FINRA published the rulemaking items under consideration by its Board of Governors at the Board’s meeting on May 10, 2017, including items related to broker conduct, liquidity reporting and notification, and unpaid arbitration awards. (5/3/2017) FINRA press release.
FINRA issues notice of special meeting for large firms. FINRA notified firms that it will hold a special meeting of large firms on May 19, 2017, to elect one Large Firm Governor to the FINRA Board of Governors. (5/2/2017) FINRA election notice.
MSRB releases summary of quarterly Board meeting. The MSRB summarized the items discussed by the MSRB Board of Directors at its quarterly meeting on April 26-27, 2017, which included consideration of comments received regarding proposed updates to the municipal securities dealer advertising rule, its review of primary offering practices, and proposed amendments to rules governing below-minimum denomination transactions. (5/1/2017) MSRB press release.
FINRA updates guidance on social networking websites and business communications. FINRA published new questions and answers on the application of its rules on communications with the public to digital communications, which address topics such as text messaging; personal communications; hyperlinks and sharing; and native advertising. (4/25/2017) FINRA regulatory notice.