MSRB Notice Due Out On Fair Pricing

Hume, Lynn
May 2003
Bond Buyer;5/14/2003, Vol. 344 Issue 31635, p1
Trade Publication
Concerned about pricing disparities in the U.S. municipal securities market, the Municipal Securities Rulemaking Board is preparing to issue a notice that interprets its fair-pricing rules and solicits comments on new guidance for complying with those in transactions when there is a lack of prevailing market price. The rules are G-30 on prices and commissions, G-18 on the execution of transactions, and G-17 on fair dealing. G-30 and G-18 generally state that municipal brokers and dealers should set prices reasonably. The board also remains upset that some dealers and their employees may be trying to circumvent Rule G-37 by providing political contributions to issuer officials through state and local political parties.


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