SIFMA Concerned About Proposed Fair Pricing Rules For Municipal Securities

The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Leslie Norwood, managing director and associate general counsel and co-head of municipal securities at SIFMA, on the fair pricing rules proposed by the Municipal Securities Rulemaking Board:

“The existing fair pricing rules for municipal securities are well understood and flexible enough to accommodate rapidly changing market conditions. SIFMA has concerns that the MSRB’s proposed interpretive guidance on mark-ups for municipal securities may have implications on the willingness of firms to make markets and hold inventory. We will be reviewing the proposal in detail with our members and look forward to working with the MSRB on this issue.”