MSRB Proposes To Update Customer Account Transfer Rule

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Cadwalader, Wickersham & Taft LLP

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The MSRB proposed changes to rules on customer account transfers in order to provide a uniform standard for all municipal securities dealers.
United States Corporate/Commercial Law

The MSRB proposed changes to rules on customer account transfers in order to provide a uniform standard for all municipal securities dealers. The MSRB filed proposed changes to MSRB Rule G-26 ("Customer Account Transfers") in order to "modernize" the existing rule, harmonize it with the rules of other self-regulatory organizations (particularly FINRA Rule 11870), and provide a uniform customer account transfer standard. The current proposal contains minor alterations in response to input received by the MSRB's January 6, 2017 request for comments.

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