The new MSRB rule represents another significant milestone in the MSRB’s development of the comprehensive regulatory framework for municipal advisors mandated under the Dodd-Frank Act.

On December 23, 2015, the Securities and Exchange Commission (SEC) issued an order approving the Municipal Securities Rulemaking Board’s (MSRB) new Rule G-42. New MSRB Rule G-42 sets forth municipal advisors’ required standards of conduct and duties when engaging in municipal advisory activities other than municipal advisory solicitation activities. Among other things, the new rule...