SIFMA provides comments to the Municipal Securities Rulemaking Board (MSRB) on proposed sophisticated municipal market professional rules, MSRB Notice 2013-10.  SIFMA continues to support the efforts by the MSRB to provide clarity to regulated entities by reorganizing or eliminating certain interpretive guidance associated with MSRB Rule G-17 into new or revised rules that highlight core principles. Among the notable comments, SIFMA shares its belief that the MSRB rules listed within proposed Rule G-48 should reference a firm’s reduced obligations to SMMPs by cross referencing proposed rule G-48.