Best Practice and Operations Group

The Best Practices Operations Group has served the fixed income industry for more than 30 years. Established as the Regional Municipal Operations Association (RMOA), the organization evolved alongside changes in industry rules, regulations, and processing practices. Its membership has expanded beyond operations professionals to include representatives from compliance, the front office, and management at smaller firms. In 2020, the organization became the Regional Fixed Income Best Practices Group, Inc. (RFI/BPG), a not-for-profit membership organization, reflecting its broader and more inclusive mission.

Today, the Best Practices Operations Group brings together small, midsize, and regional dealers involved in fixed income sales, distribution, and public finance. Members collaborate to interpret and implement industry guidelines and regulatory requirements affecting retail and institutional sales, recognizing that each change may affect firms differently.

The group’s core mission is to build a shared understanding of operational practices, compliance obligations, and regulatory intent. Its discussions focus on the fixed income operations and compliance issues that directly affect participating firms.

Meetings are held every four months in an interactive roundtable format, with timely agendas designed around current industry priorities.

Agendas emphasize the practical implementation of, and compliance with, current regulatory rules and guidance, as well as emerging legislative mandates. Discussions are collaborative and may be led by a range of industry participants. Members are encouraged to learn from unfamiliar topics and to share their expertise when they have relevant experience.
The group is proud to be recognized and supported through the continued participation of staff from DTCC, FINRA, and the MSRB.

We welcome ideas for expanding participation among BMA member firms. For information about becoming involved, please contact Randy Leeper (D.A. Davidson), Kathryn Phillips (The Baker Group), Jim Cherry (SouthState Securities), or Kelly Bell (Hilltop Securities).

We are proud to be part of the BMA community and look forward to working with current and new members to advance a shared, positive vision for the fixed income industry.