The proposal would also make changes to Rule G-37, to make clear that municipal advisors who work at broker-dealers would be covered with other municipal advisors under new Rule G-42 and various conforming changes to other MSRB rules. The new rule would be effective 6 months after either (1) the SEC first approves rules defining “municipal advisor” or (2) the SEC approves this proposed rule, whichever is later. The text of the MSRB filing is available here.