New MSRB rules seek to end municipal swap adviser scandals

Dodd-Frank rules take aim at brokers pushing rate swaps for bigger commissions


Dealers and intermediaries acting as swap advisers on municipal derivatives trades will face regulation for the first time under new US registration requirements.

Under Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, all persons that “provide advice to a municipal entity with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such

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