MSRB’s Proposed Changes to Continuing Education Requirements

SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Municipal Securities Rulemaking Board (MSRB) filing with the SEC on proposed changes to MSRB Rule G-3 regarding continuing education requirements.

The MSRB has filed a rule change with the SEC to require that dealers provide Firm Element continuing education annually on municipal securities for registered representatives and principals who regularly engage in or supervise, respectively, municipal securities activities. 

While SIFMA and its members appreciate the modifications made in response to various commentors to the continuing education changes originally proposed in MSRB Regulatory Notice 2013-222, we continue to believe that the revised proposal should be further revised to the greatest extent possible to keep MSRB continuing education requirements harmonized with those of the Financial Industry Regulatory Authority (FINRA).

Related Material

SIFMA Comments on Original Rule: SIFMA Submits Comments to the MSRB on Rule G-3 Relating to Continuing Education, Financial Operation Principal, and Limited Representative (January 13, 2014) 

Original Notice 2013-22 MSRB Proposes Changes to Continuing Education Program (December 13, 2013)

Additional Related Information

SIFMA Submits Comments to the MSRB on the MSRB’s Draft Best Execution Rule (March 13, 2014)