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The MSRB addressed the application of supervisory requirements in light of operational challenges and business disruptions posed by the coronavirus outbreak.
The MSRB addressed the application of supervisory
requirements in light of operational challenges and business
disruptions posed by the coronavirus outbreak.
In a new Notice, MSRB reminded municipal market participants
that
MSRB Rule G-27 ("Supervision") and
Rule G-44 ("Supervisory and Compliance Obligations of
Municipal Advisors") require broker-dealers and municipal
advisors to implement a system to supervise municipal advisory
activities. The MSRB stated that neither rule mandates that
supervision be conducted in person. Instead, the respective systems
may incorporate remote supervision using technological
resources.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
