{"abstract":null,"action":"(1) The \"somewhat open-ended\" phrase \"other similar financial product\" should be amended to refer exclusively to municipal financial products, as defined in the Exchange Act; and (2) the definition of \"engaging in a principal transaction\" should be amended to make clear that the term does not include any of the banking activities as to which a bank may provide advice without being registered as a municipal advisor pursuant to the exemption in the SEC Rule 15Ba1-1(d)(3)(iii),\\76\\ including holding investments in a deposit or savings account, certificate of deposit or other deposit instrument issued by a bank; extensions of credit by a bank to a municipal entity or obligated person, including the issuance of a letter of credit; the making of a direct loan, or the purchase of a municipal security by the bank for its own account; holding funds in a sweep account; or investments made by a bank acting in the capacity of an indenture trustee or similar capacity.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2015/05/08/2015-11054.html","cfr_references":[],"citation":"80 FR 26752","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":null,"disposition_notes":null,"docket_ids":["Release No. 34-74860","File No. SR-MSRB-2015-03"],"dockets":[],"document_number":"2015-11054","effective_on":null,"end_page":26785,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2015/05/08/2015-11054.xml","html_url":"https://www.federalregister.gov/documents/2015/05/08/2015-11054/self-regulatory-organizations-municipal-securities-rulemaking-board-notice-of-filing-of-a-proposed","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2015-11054?publication_date=2015-05-08","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2015-05-08/2015-11054/mods.xml","not_received_for_publication":null,"page_length":34,"page_views":{"count":259,"last_updated":"2026-08-25 20:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2015-05-08/pdf/2015-11054.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2015-11054.pdf?1431002753","publication_date":"2015-05-08","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2015/05/08/2015-11054.txt","regulation_id_number_info":{},"regulation_id_numbers":[],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2015-05-30T05:01:51Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":26752,"subtype":null,"title":"Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing of a Proposed Rule Change Consisting of Proposed New Rule G-42, on Duties of Non-Solicitor Municipal Advisors, and Proposed Amendments to Rule G-8, on Books and Records To Be Made by Brokers, Dealers, Municipal Securities Dealers, and Municipal Advisors","toc_doc":"Municipal Securities Rulemaking Board","toc_subject":"Self-Regulatory Organizations; Proposed Rule Changes:","topics":[],"type":"Notice","volume":80}