Posts tagged Tower Amendment.
The Municipal Securities Rulemaking Board ("MSRB") issued a concept release last month suggesting that market transparency trumps the direct Congressional prohibition against federal regulations requiring filing of information by (or by broker-dealers, from) municipal issuers (the "Tower Amendment").
Regulators are concerned that direct purchases of municipal debt (akin to private placements) and bank loans to municipal entities might avoid the municipal securities regulatory regime, yet affect the priority and integrity of municipal securities:
The MSRB has ...
Posted in: MSRB
Tags: broker-dealers, burr forman, finra, MSRB, Municipal Securities Rulemaking Board, securities, securities litigation, Securities Litigation & Arbitration, Tower Amendment