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Municipal Advisors to Be Subject To New Pay-To-Play Regulations

The Municipal Securities Rulemaking Board (MSRB) announced that new regulations to safeguard the municipal securities market against pay-to-play practices—and the appearance of them—when state and local governments hire outside financial professionals go into effect later this year. The new regulations extend the MSRB’s well-established municipal securities dealer pay-to-play rule to municipal advisors, including those acting...
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