Bond mark-up transparency rule could help investors, cause more work for brokers
05/14/2018 Fixed Income
New regulations designed to illuminate the cost of bonds, which went into effect on Monday, are likely to help retail investors but cause more work for brokers.
The regulations — one from the Financial Industry Regulatory Authority Inc., the broker-dealer self-regulator, and one from the Municipal Securities Rulemaking Board — would require that brokers selling municipal and corporate bonds to retail investors disclose their markup or markdown on bonds that they bought and resold on the same day.
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