On August 25th, the Municipal Securities Rulemaking Board announced it has filed with the SEC a proposed change to its interpretive guidance concerning political contributions and prohibitions on municipal securities business. The proposed interpretation provides guidance on factors that may result in a political action committee formed by or otherwise maintaining a relationship with an affiliate of a broker, dealer or municipal securities dealer being viewed as controlled by the dealer or a municipal finance professional of the dealer and thereby being treated as a dealer-controlled PAC. In addition, the MSRB is seeking comment on whether to require dealers to disclose the names of its affiliated PACs to the MSRB for public scrutiny. MSRB Notice.