The Bond Market Association (TBMA)* provides supplemental comments to the Municipal Securities Rulemaking Board (MSRB) on Draft Interpretive Guidance on Dealer Responsibilities in Connection with Municipal Securities Transactions (Interpretive Release).  TBMA offers additional observations supporting the MSRB’s initiative permitting dealers to designate a class of investors as “sophisticated market professionals” (SMPs).

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