MSRB publishes its first compliance advisory for broker-dealers. Issue 3 (5th September 2016)

• Record Type: Journal Article
• Authors: Anderson, Scott R.; Poorbaugh, Kate S.
• Is Part Of: Journal of investment compliance. Volume 17:Issue 3(2016)
• Page Start: 49
• Page End: 51
• Publication Date: 2016-09-05
• Subjects: Broker-dealer -- Municipal Securities Rulemaking Board (MSRB) -- Municipal securities -- Policies and procedures -- Compliance risks -- Regulatory examinations; Institutional investments -- Law and legislation -- Periodicals; Securities -- Periodicals; 332.6
• DOI: 10.1108/JOIC-07-2016-0026
• Languages: English
• ISSNs: 1528-5812

Abstract

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.