Orlando, Fla. -- The Municipal Securities Rulemaking Board should proceed with caution if it decides to follow a suggestion that it beef up customer suitability requirements for municipal bond dealers, an MSRB member says.

"I think there may in fact be some serious ramifications" for municipal bond issuers if broker-dealers are forced to document how they reach their suitability determinations, said Richard M. Evans, the director of finance for Savannah, Ga.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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