MSRB Reports Volume 20, Number 2   November 2000


                                                  Also In This Issue

Calendar 

Board Members:
2000-2001

MSRB Disclosure Forum

Official Statement
Submissions to MSRB Under Rule G-36(c)(i
)
Amendment Approved: Rule G-36

  Revision to Board Fee Assessments
Amendment Approved: Rule A-13

 Supervisory Procedures for the Review of Correspondence with the Public
Amendments Approved: Rules G-8, G-9 and G-27

 Technical Amendments Adopted

 Publications List

 Publications Order Form

 

Board Elects Keating Chairman; Stanberry Vice Chairman

 The Board has elected its Chairman and Vice Chairman for its 2001 fiscal year. Mr. Daniel L. Keating is serving as Chairman and Mr. Thomas E. Stanberry is serving as Vice Chairman. They began their terms on October 1, 2000.

 Mr. Keating is a Senior Managing Director for Bear, Stearns & Co. Inc., and has held this position since 1985, the year the firm succeeded from a partnership to a publicly traded corporation. His responsibilities include managing the Municipal Trading, Sales, Underwriting and Public Finance departments, as well as being co-head of the Municipal Derivatives Group. He joined Bear Stearns in 1975 as a municipal institutional salesman and in 1983 was promoted to General Partner. Mr. Keating is a member of the Board of Directors of the firmís broker/dealer subsidiary as well as a past Chairman of the firmís Presidentís Advisory Committee. He is a graduate of St. Peterís College in New Jersey. 

Mr. Stanberry is a Managing Director and a senior investment banker in the Fixed Income Division of U.S. Bancorp Piper Jaffray. He is also a member of the U.S. Bancorp Piper Jaffray Board of Directors. Mr. Stanberry joined Piper Jaffray in 1989 in its Public Finance department. Prior to joining Piper, he was a practicing bond attorney for 10 years in Des Moines, Iowa. Mr. Stanberry received his B.A. from Wabash College and J.D. from Drake University Law School.

 

In This Issue

 Notice and Draft Interpretive Guidance on Dealer Responsibilities in Connection with Both Electronic and Traditional Municipal Securities Transactions

Comments Requested
Comments Due By: December 1, 2000

The Board is seeking comment on its draft interpretive guidance in connection with the responsibilities of dealers under the MSRBís fair practice, quotation, uniform practice and new issue securities rules. The draft interpretive guidance would apply to both electronic and traditional municipal securities transactions. 

Electronic Submission of Official Statements, Advance Refunding Documents and Forms G-36(OS) and G-36(ARD) to the MSRB

Comments Requested
Comments Due By: November 17, 2000

The Board is requesting comment on the establishment of an optional system of electronic submissions by underwriters of official statements, advance refunding documents and Forms G-36(OS) and G-36(ARD) to the MSRBís MSILģ system. The Board is also requesting comment on draft amendments to rule G-36 to effectuate this optional electronic submission system. 

Municipal Fund Securities

Rule Changes Filed

The Board has filed with the Securities and Exchange Commission proposed rule changes relating to municipal fund securities.

Public Reporting of Historical Information on Transactions in Municipal Securities

Service Approved

The SEC has approved a service to offer a Comprehensive Transaction Report, containing historical transaction information on all transactions in municipal securities reported to the MSRB by dealers under rule G-14. The Report will be available on a delayed basis, once a month, covering the previous monthís trading. There will be a fee of $2,000 for annual subscriptions.

 

 

 

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