Investor Protection

CFA Supports FINRA’s Reproposal, Opposes MSRB’s Reproposal Regarding Confirmation Price Disclosures

After receiving feedback, FINRA has proposed certain technical adjustments to its initial proposal to require price disclosures in fixed income markets. These technical adjustments would improve the initial rule’s workability without undermining the regulatory goals of allowing retail investors to make more informed investment decisions and fostering increased price competition in fixed income markets. However, the same cannot be said for MSRB’s revised proposal, which would allow firms to easily evade their disclosure requirements, thus undermining the goals the disclosures are seeking to promote.