📈Proposed Amendments to MSRB Rule G-14 on Trade Reporting
Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing of a Proposed Rule Change To Amend Rule G-14 RTRS Procedures under MSRB Rule G-14 Regarding the Timing of Reporting Transactions in Municipal Securities to the MSRB and To Make a Related Amendment to Rule G-12
Summary
The Securities and Exchange Commission discusses a proposed rule change by the Municipal Securities Rulemaking Board that modifies the reporting timeframe for transactions in municipal securities. The changes include reverting the reporting deadline to 15 minutes and promoting timely reporting "as soon as practicable," aiming to enhance market transparency and minimize compliance burdens for dealers.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed amendments to Rule G-14 impact brokers and dealers in municipal securities by reverting the transaction reporting deadline from one minute to 15 minutes. This alleviates compliance burdens and associated costs, while maintaining an obligation for timely reporting "as soon as practicable." The changes will likely enhance market transparency and reduce information asymmetry among investors.