MSRB Proposes Relaxed Duties for Municipal Advisers

, The Legal Intelligencer

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On July 23, the Municipal Securities Rulemaking Board issued Regulatory Notice 2014-12, requesting comment on its proposed revisions to Draft Rule G-42, concerning the standards of conduct and duties of municipal advisers. The MSRB's changes to the rule incorporate many of the comments previously received from the public, the effect of which would be to substantially relax the duties owed by municipal advisers to their municipal entity clients.

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