WASHINGTON - The Municipal Securities Rulemaking Board's forthcoming political contributions rule would not only ban direct gifts by bond firms that are aimed at snaring an issuer's underwriting business, but it would ban indirect payments as well, the MSRB's executive director said yesterday.

Political contributions that are merely designed to put a bond firm in the running for an issuer's business - not just those made to capture or keep the business - would be "absolutely forbidden" under the panel's proposed contributions rule, said Christopher A. Taylor, the MSRB's executive director.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.