SIFMA provides comments to the Securities and Exchange Commission (SEC) on on MSRB Rules. Draft changes to MSRB Rules G-12, on uniform practice, and G-15, on confirmation, clearance, settlement, would enable the first shortening of the municipal securities settlement cycle since 1995. The T+2 settlement cycle, if adopted by all relevant regulators, would apply across the securities industry, including not only municipal securities but also equity securities and corporate bonds.

See also:
SIFMA and ICI Submit Comments to the SEC Regarding Shortened Settlement Cycle Regulatory Initiatives
  Request for Comment on Changes to MSRB Rules to Facilitate Shortening the Securities Settlement Cycle
MSRB Filing
Federal Register / Vol. 81, No. 53 / Friday, March 18, 2016