MSRB Extends Relief Permitting Remote Internal Inspections

The SEC published in the Federal Register  an MSRB proposal to extend until June 30, 2022, relief permitting remote internal inspections for calendar year 2022. The MSRB proposal is immediately effective with an operative date of January 1, 2022.

As previously covered, the MSRB stated that this extension is due to ongoing operational challenges caused by the COVID-19 pandemic. The proposed rule change to Supplementary Material .01 of MSRB Rule G-27 ("Supervision") would condition a dealer's election to conduct a remote inspection on:

• the dealer amending its written supervisory policies as appropriate;
• the dealer's use of remote inspections as part of an effective larger supervisory system; and
• maintenance of records related to remote inspections.

Comments on the extension may be submitted until November 23, 2021.

Primary Sources

1. Federal Register: Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Further Extend the Regulatory Relief and Permit Dealers To Conduct Office Inspections . . .

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