Municipal securities dealers and municipal finance professionals may soon be required to make more disclosures on their donations to bond ballot campaigns, the Municipal Securities Rulemaking Board said Wednesday.
MSRB Chairman Jay Goldstone, deputy executive director Ernesto Lanza and general counsel Gary Goldsholle discussed at a press briefing this and other steps the MSRB considered in a meeting last week.
In addition to bond ballot disclosures, the MSRB is also considering several investor protection initiatives. MSRB rulemaking, which requires approval by the Securities and Exchange Commission before becoming effective, is an "iterative process, with multiple submissions," Goldstone said.
Soon – "in the coming weeks … it should not take very long," said Lanza, the SEC will be asked to approve requiring dealers and finance professionals to disclose more details on their donations and to identify specific items of business they conduct related to such contributions.
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