Regulatory Activities

Comment Letters to SEC and MSRB

 

2024

2/26/24 - NAMA Comment Letter to MSRB/Small Firms and MSRB Rules RFI

1/2/24 - NAMA Comment Letter to SEC on MSRB Fees

1/2/24 - NAMA, ASA, BDA, and SIFMA Letter to SEC on MSRB Fees

2023

07/21/2023 - NAMA Comment Letter to SEC re: MSRB Rule G-3

07/14/2023 - NAMA, ASA, BDA, SIFMA Joint Letter to IRS re: IRA Tax Credits

04/26/2023 - NAMA Comment Letter to SEC re: Updated Amendments to MSRB Rule G-40/allowing testimonials

03/31/2023 - NAMA Comment Letter to SEC re: Asset Backed Securities Proposal

03/07/2023 - NAMA Comment Letter to SEC re: Amendments to MSRB Rule G-40/allowing testimonials

01/30/2023 - NAMA Comment Letter to MSRB re: G-3 Amendments 

 2022

10/18/2022 - Industry Group Letter (Including NAMA) on the Financial Data Transparency Act

8/29/2022 - NAMA Comment Letter to SEC re: MSRB Fees for MAs and Broker-Dealers

8/3/2022 - NAMA Comment Letter to SEC re: MSRB Rule G-34 Amendments

7/6/2022 - NAMA Comment Letter to SEC re: MSRB Fees for MAs and Broker-Dealers

7/6/2022 - NAMA/BDA/SIFMA Letter to SEC re: Need for Greater MSRB Budget Transparency 

3/15/2022 - NAMA Comment Letter to MSRB's Proposed Rule on Solicitor MAs

3/8/2022 -  NAMA Comment Letter to MSRB's on the Request for Information - ESG Practices

3/8/2022 - Industry Group Letter to MSRB on the Request for Information - ESG Practices

1/19/2022 - Comment Letter to MSRB on Proposed Guidance: Supervisory Procedures and MA Pricing Duties

2021

7/28/2021 - Letter to MSRB Requesting S54 Online Availability and Extending Compliance Deadline

6/17/2021 - Comment Letter to MSRB on Proposed G-46/Solicitor MAs

1/11/2021 - Letter to MSRB on its Strategic Planning Initiatives

2020

7/15/2020 - Letter to MSRB on Rule A-3
4/29/2020 - Letter to MSRB on Proposed Changes to Rule A-3
4/16/2020 - Letter to the Federal Reserve on the Municipal Liquidity Facility
3/3/2020 - Letter to SEC on Exemptive Order and Investor Protections
3/12/2020 - Opinion Piece in Bond Buyer Regarding SEC Exemptive Order

2019

12/09/2019 - Letter to SEC Regarding MA Exemptive Relief Proposal from Broker-Dealer Rules Related to Direct Placements
8/30/2019 - Letter to SEC Regarding MSRB Rule G-17 Interpretive Notice
8/19/2019 - Letter to MSRB Regarding MSRB Rule G-23
7/18/2019 - Letter to SEC on Direct Placements (NAMA 2014 letter on same topic) 
5/28/2019 - Letter to MSRB Regarding MSRB Rule G-34
  5/3/2019 - Letter to SEC About MSRB Rule G-32/Form G-32
1/24/2019 - MSRB ANNOUNCEMENT ON RULE G-40 EFFECTIVE DATE
1/23/2019 - Letter to the MSRB Regarding MSRB Rule G-40 Effective Date
1/15/2019 - Letter to MSRB Regarding MSRB Rule G-17 Interpretive Guidance

 

2018

10/17/2018 - Letter to MSRB Regarding FAQs for Rule G-40/Content Standards
9/18/2018 - Letter to MSRB Regarding MSRB Rules G-11 and G-32/Primary Offering Practices
9/17/2018 - Letter to MSRB Regarding FAQs for Rule G-40/Social Media
7/27/2018 - Letter to MSRB Regarding FAQs for Rule G-40/Client Lists and Case Studies
4/16/2018 - Letter to MSRB Regarding G-42/Recommendation FAQs
2/28/2018 - Letter to SEC Regarding MSRB Rule G-40/Advertising
2/9/2018 - Letter to MSRB Regarding their Compliance Support Program

 

2017

11/13/2017 - Letter to MSRB Regarding their Concept Proposal on Primary Offering Practices
10/10/2017 - Letter to SEC Regarding MSRB's Proposed Amendments to Rule G-34, Obtaining CUSIPs
10/02/2017 - Letter to SEC Chairman Clayton Regarding EDGAR Breach and MAs
6/30/2017 - Letter to MSRB Regarding Updated Proposed Amendments to Rule G-34, Obtaining CUSIPs
5/15/2017 - Letter to SEC Regarding SEC's Proposed Amendments to Rule 15c2-12
4/25/2017 - Letter to SEC Regarding MSRB MA Continuing Education Standards
3/31/2017 - MSRB Proposed Rule G-34, Obtaining CUSIP Numbers
3/24/2017 - MSRB Proposed Rule G-40, Advertising by Municipal Advisors

 2016

12/12/2016 - MSRB Proposal to SEC on Rule G-10/Customer Complaints
11/14/2016 - MSRB Proposal - MA Continuing Education Standards
11/14/2016 - MSRB Request for Comments Regarding Long-Term Strategic Priorities


5/27/2016 - MSRB Concept Proposal on MAs Disclosing Issuer Bank Loans
1/20/2016 - MSRB Rules G-8, G-9 and G-37; Recordkeeping and Political Contributions

 2015

12/7/2015 - MSRB Rule G-42, Duties of Municipal Advisors
11/19/2015 - MSRB Rule A-3, Length of MSRB Board Terms
10/16/2015 - SEC re: MSRB Rule G-20, Gifts, Gratuities and Recordkeeping Thereof
9/18/2015 - MSRB Rule A-12, MA Registration and Fees
9/11/2015 - SEC re: MSRB Rule G-42, Duties of Municipal Advisors
7/13/2015 - MSRB Rule A-3, Board Composition and Length of Board Terms
6/1/2015 - NFMA RBP Bank Loan Disclosure Comments
5/28/2015 - MSRB Rule G-42, Duties of Municipal Advisors 
2/20/2015 - SEC Comment Letter Related to Rule 15c2-12

2014

12/15/2014 - SEC Letter Regarding Direct Purchase
12/8/2014 - NAMA Comments to G-20
3/21/2014 - NAMA Comments to G-18
3/10/2014 - NAMA Comments to G-42
1/10/2014 - Municipal Advisor FAQs

2013

12/17/2013 - Common Misconceptions About the Municipal Advisor Rule
11/22/2013 - NAMA Open Letter to Mary Joe White
7/23/2013 - Proposed Rule Change Consisting of Amendments to MSRB Rules G-8, G-11 and G-32 to Include Provisions Specifically Tailored for Retail Order Periods.
7/15/2013 - Comments to MSRB SR-MSRB-2013-6: Proposed Rule Change Consisting of Amendments to MSRB Rule A-3, on Membership on the Board, to Modify the Standard of Independence for Public Board Members.
3/12/2013 - SR-MSRB-2013-0 – Notice of Filing of a Proposed Rule Change Relating to Amendments to MSRB Rules G-37 and G-8 and Form G-37
2/8/2013 - NAMA comments on MSRB Notice 2012-61 – Concept Proposal to Require Underwriters to Submit Preliminary Official Statements to the MSRB’s EMMA System
2/7/2013 - Public Affairs Committee Report, February 2013

2012

11/2/2012 - NAMA Comments to MSRB Notice 2012-50
10/23/2012 - Follow-up Letter to SEC re: Meeting with John Cross
10/16/2012 - Response letter to DTCC regarding Fee Increases
9/17/2012 - NAMA Response to MSRB Notice 2012-43 – Bond Ballot Campaign Committee Contributions
9/11/2012 - Press Release – NAMA Opposes H.R. 2827 – The Dold Amendment.
8/13/2012 - Comments on Notice MSRB Notice 2012-36 Draft Amendment to Limit Dealer Consents to Changes in Authorizing Document for Municipal Securities
7/31/2012 - Comments on MSRB Notice 2012-28 regarding Potential Conflicts of Interest
7/30/2012 - Testimony on HR 2827
4/13/2012 - Comments on Notice 2012-13 proposed amendments to MSRB Rule G-11
4/9/2012  MSRB Notice 2012-14 – “Not Reoffered“ Designation
3/27/2012 - MSRB Notice 2012-09 – Fiscal Year 2013 Priorities
1/30/2012 - Comment on SEC G-17 Order Instituting Proceedings to Determine Whether to Disapprove Proposed Rule Change

2011

11/30/2011 - NAMA response to Amended draft Rule G-17, SR-MSRB-2011-09
11/16/2011 - Response to SEC re: Bond Dealers of America letter
11/9/2011 - NAMA response to Municipal Advisory Services letter dated November 9, 2011
10/4/2011 - Response to SEC/ Rule G-17/ Underwriter Fair Dealing
9/15/2011 - Response to MSRB Notice No. 2011-41/ Rule G-21/ Advertising
9/15/2011 - Response to MSRB Notice No. 2011-42/ Rule G-42 / Activities of Municipal Advisors
9/13/2011 - Response to MSRB Notice No. 2011 -34 regarding draft Form A-11 Survey
9/6/2011 - Letter to SEC regarding MSRB Rule A-11 on Municipal Advisor Assessments
8/29/2011 - RE : MSRB Notice 2011-34 – Comment on proposed interim municipal advisor assessments under Rule A-11
6/24/2011 - Comment to SEC on Amendment No.1 to Rule G-23 (adopted 5/27/11)
6/24/2011 - Re: MSRB Notice 2011-28 – Comments on Proposed Rule G-44 and Associated Amendments to rules G-8 and G-9
4/11/2011 - Re: MSRB Notice No. 2011-14; No. 2011-13 – Comments on Proposed Rule G-36/Fiduciary Duty
4/11/2011 - Re: MSRB Notice No. 2011-12 – Comments on Proposed Rule G-17/Fair Dealing
4/1/2011 - Re: MSRB Notice No. 2011-16 – Comments of Proposed Rule G-20/Gifts and Gratuities
2/24/2011 - Re: MSRB Notice 2011-04 – Request for Comments on Pay to Play Rule (Rule G-42) for Municipal Advisors
2/22/2011 - Comments to SEC on Municipal Advisor Registration

2010

12/9/2010 - Comments to SEC On 1) A-012 and A-14, 2) G-15 and G-17 and 3) D-13, D-14, G-40, and Form G-40
9/30/2010 - Comments to MSRB on G-23
9/22/2010 - Comments to SEC on A-3
1/12/2010 - Comment to SEC on Amendments to G-37 and G-8

2009

11/13/2009 - Letter to Dodd & Shelby
11/2/2009 - NAMA Letter to Congress
3/16/2009 - Resolution approved by the Board of Directors of National Association of Municipal Advisors (NAMA) on March 16, 2009

2008

3/18/2008 - Board Resolution on Cooperation with Muni Council and Central Post Office
3/18/2008 - Rating Agency Resolution
3/10/2008 - Offers and Sales of Securities to “Large Accredited Investors”
3/10/2008 - EMMA Proposal