Bloomberg News

U.S. Municipal-Bond Regulator Seeks Rules to Stem Overcharging

January 31, 2012

Jan. 30 (Bloomberg) -- The regulator of the $3.7 trillion U.S. municipal-bond market is seeking rules to prevent overcharging by firms that resell debt for brokers and to ensure that individual investors have access to new securities.

The Municipal Securities Rulemaking Board, which crafts regulations for state and local governments, also wants to force better disclosure of pricings in bond offerings, Alan Polsky, a vice president with Dougherty & Co. and the chairman of the MSRB, told reporters on a conference call today. The board approved the steps during its meeting last week, he said.

The MSRB rules are subject to the approval of the Securities and Exchange Commission.

--Editor: Mark Schoifet, Stephen Merelman

To contact the reporter on this story: William Selway in Washington at wselway@bloomberg.net

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net.


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