BDA Comment Letter on the Presidential Memo on the Fiduciary Duty Rule Today, the BDA submitted a comment letter that is focused on the questions raised by President Trump’s February 3rd memorandum. Comment Letter Summary In response to the issues raised in the Presidential Memo, the BDA’s comment letter states that the rule will unnecessarily restrict access to fixed-income…
Category: Featured
FTN Financial Joins the BDA
We very pleased to announce that FTN Financial is the newest member of the Bond Dealers of America. The BDA now represents 69 firms headquartered nationwide and continues to be the primary voice in Washington, DC when advocating for the interests of fixed income dealers whose primary focus is the US capital markets. The addition of FTN makes…
BDA Submits Comment Letter: Amendments to MSRB G-34 on CUSIPs
BDA submitted a comment letter, available here, in response to MSRB’s request for comment on draft amendments and clarifications to Rule G-34 on obtaining CUSIP numbers. The draft letter focuses on the following: The Draft Amendments will not permit issuers to issue and investors to purchase privately placed municipal securities without CUSIP numbers even though there are good…
BDA Comment Letter: MSRB Request for Comment on Amendments to MSRB G-21 and Advertising Standards for Municipal Advisors (MSRB G-40)
The MSRB has released a request for comment on proposed amendments to MSRB G-21 standards applicable to dealers and to establish proposed MSRB G-40, an advertising standard for municipal advisors. BDA’s comment letter is here. BDA Comment Letter Summary BDA urges the MSRB to harmonize MSRB G-21 with FINRA 2210, which has different requirements for retail, institutional, and correspondence…
The BDA Announces the 2017 Board Of Directors
To view the 2017 Board of Directors, click here.
Moreton Capital Markets Joins the BDA
The BDA pleased to announce that Moreton Capital Markets is the newest member of the Bond Dealers of America, participating in the BDA’s newly formed Small Firm Division. The addition of Moreton and their professionals focused on the US fixed income markets makes the BDA a deeper, stronger and more effective trade association when advocating for and representing the interests…
Municipal Bonds for America (MBFA) 2016 End of Year Report
In 2016, the Municipal Bonds for America (MBFA) Coalition increased its advocacy efforts as tax reform discussions became an increasing focus on the campaign trail and Capitol Hill. As Washington enters into a new congress, the MBFA will continue to educate the Administration and Congress on the reasons why municipal bonds will always be the simplest and…
BDA Launches Small Firm Division
The BDA, in partnership with Hilltop Securities Clearing, is pleased to announce the formation of the BDA’s Small Firm Division which will provide direct, tangible advocacy for smaller broker-dealers and banks active in the US fixed income markets and which, until today, had no voice and no representation in Washington, DC. It’s time Federal policy…
BDA Submits Comment Letter to the SEC on its Proposed Amendment to Shorten the Settlement Cycle to T+2
Today, BDA submitted its comment letter to the SEC on its request for comment on a proposed amendment to Rule 15c6-1(a) to shorten the settlement cycle from T+3 to T+2 and is designed to reduce systemic risk for U.S. market participants. You can view the BDA’s letter here. BDA’s Letter: Requests that the SEC work with…
BDA Submits Letter to House Leadership in Defense of Muni Bond Tax Exemption
The BDA recently submitted a letter to House Speaker Paul Ryan (R-WI) and Rep. Kevin Brady (R-TX), Chairman of the House Ways & Means Committee, in response to the federal tax reform plan known in Washington as the “Blueprint”. This letter focuses on maintaining the current law status for tax exempt municipal bonds. You can…