New MSRB Guide for Complaint Problem and Product Codes
The Municipal Securities Rulemaking Board (MSRB) reminds brokers-dealers, municipal securities dealers, and municipal advisors of the October 13, 2017 effective date for amendments to rules related to customer and municipal advisory client complaints. Amendments to MSRB Rules G-10, G-8 and G-9 require that “regulated entities keep an electronic complaint log of all written complaints of customers or municipal advisory clients using a standard set of product and problem codes.”
- The MSRB Rule G-8 Customer and Municipal Advisory Client Complaint Problem and Product Codes Guide is now available.
- The MSRB will host an educational webinar about the amendments to Rules G-10, G-8 and G-9 on Thursday, July 13, 2017 at 3:00 p.m. ET.
Codes for the Complaint Log
The MSRB and FINRA developed codes for the electronic complaint log required by Rule G-8 based on product/problem codes required by FINRA Rule 4530, but tailored to address municipal securities and municipal advisory activities.
FINRA Rule 4530 incorporated the “product and problem codes explanations relating to municipal securities and municipal advisory activities, and includes Problem Code 15, Municipal Advisor Conflict of Interest, to address allegations relating to municipal advisor conflicts of interest.”
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