MSRB publishes its first compliance advisory for broker-dealers

Abstract

Purpose

To summarize the Municipal Securities Rulemaking Board’s 2016 Compliance Advisory for brokers, dealers and municipal securities dealers.

Design/methodology/approach

Summarizes several Municipal Securities Rulemaking Board (MSRB) rules that the Compliance Advisory highlights as presenting key compliance risks for brokers, dealers and municipal securities dealers. Discusses the factors included in the Compliance Advisory that dealers should consider when evaluating compliance procedures and controls.

Findings

By highlighting some key compliance risks and providing considerations tailored to those risks, the Compliance Advisory can be used as a tool to aid dealers in developing and assessing effective compliance programs.

Practical implications

Dealers should consider reviewing their firms’ existing compliance policies and procedures in light of the considerations discussed in the Compliance Advisory.

Originality/value

Practical guidance from experienced securities and financial services regulatory lawyers.

Citation

Anderson, S.R. and Poorbaugh, K.S. (2016), "MSRB publishes its first compliance advisory for broker-dealers", Journal of Investment Compliance, Vol. 17 No. 3, pp. 49-51. https://doi.org/10.1108/JOIC-07-2016-0026