TBMA: Proposed Changes to G-23 Would Shrink Options, Competition

February 2006
Bond Buyer;2/13/2006, Vol. 355 Issue 32218, p8
Trade Publication
The article reports that the Bond Market Association believes that the Municipal Securities Rulemaking Board's Rule G-23 is a successful, well-drafted rule, requiring thorough and accurate disclosure by regulated broker-dealers to issuers and investors in the U.S. The author implies that broker-dealer are highly regulated and play an important role as advisers to municipal bond issuers. The amendments to Rule G-23 adopted at that time addressed the issue of potential conflicts appropriately and effectively by requiring disclosures to issues, rather than seeking to limit issuer choice.


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