Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Thursday, February 6, 2014

MSRB Proposes Strict Muni Adviser Fiduciary Standard

The Municipal Securities Rulemaking Board recently released a proposed fiduciary standard for municipal advisers. The standard would prevent banks and their affiliates who are registered municipal advisers from providing any other product or service to that municipality for the duration of the advisory relationship in a principal capacity.

If, for example, a bank’s trust department provides advice to a municipal pension plan, the bank would be prohibited from offering deposits, loans or cash management services to that municipality.

Comments are due by March 10.

Read the MSRB proposal.
View ABA resources on municipal adviser registration.
Read ABA’s staff summary.


Indicates ABA members-only material.

Not an ABA member?
Learn about the benefits of membership and ways to join here.

No comments:

Post a Comment

Please read our comment policy before making a comment.