The Bond Market Association (TBMA)* provides comment to the Securities and Exchange Commission (SEC) on a proposal rule change relating to the solicitations of municipal securities business under Municipal Securities Rulemaking Board’s (MSRB’s) Rule G-38.  The proposed amendment would eliminate the use of any outside consultants to solicit municipal securities business.  TBMA contends that the proposal requires further clarification and modification.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association in 2006.