Federal Register #SR-MSRB-2026-04

MSRB Proposed Amendments to Rule G-27 on Dealer Supervision

This notice concerns a proposed regulatory change by the Municipal Securities Rulemaking Board (MSRB) affecting municipal securities dealers: - Government Buyer: - Municipal Securities Rulemaking Board (MSRB) - No OEMs, vendors, or commercial products are involved - Proposed Rule Amendments: - Extends the exclusion for non-primary residences from municipal branch office designation from 30 to 90 business days per year - Clarifies that certain public finance activities are excluded from the definition of "structuring of public offerings or private placements" - Updates the rule title to better reflect supervisory and compliance obligations - Focus is on modernizing supervisory requirements and providing flexibility for hybrid work arrangements - No procurement of goods or services is requested; this is a regulatory update only

Description

The Securities and Exchange Commission has filed a proposed rule change by the Municipal Securities Rulemaking Board (MSRB). The rule change involves amendments to MSRB Rule G-27, including excluding certain public finance activities from the term “Structuring of Public Offerings or Private Placements,” extending the exclusion period for non-primary residences from the municipal branch office designation, and making a technical update to the rule's title. The proposed changes aim to clarify regulatory definitions and provide additional flexibility for municipal securities dealers in their supervisory systems and branch office designations.

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