No Relief For Real-Time Abusers

Hume, Lynn
February 2005
Bond Buyer;2/3/2005, Vol. 351 Issue 32063, p1
Trade Publication
The article reports that broker-dealer firms do not have any "grace period" for complying with the real-time transaction reporting system that started up Monday, and those firms that made no effort to comply with the rules governing the system will not be exempt from enforcement actions, federal regulators said. "Unfortunately, the [Municipal Securities Rulemaking Board's Rule G-14] does not give a ... grace period" for compliance with the new system, Malcolm Northam, the National Association of Securities Dealers' director of fixed-income regulation, told dealers at The Bond Market Association's tenth annual Legal and Compliance Conference late Monday.


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