Fixed Income Market Structure Advisory Committee (FIMSAC)
May 28, 2024
FIMSAC is Currently Inactive
The committee advised the Commission with diverse perspectives on the structure and operations of the U.S. fixed income markets as well as advice and recommendations on matters related to fixed income market structure.
Committee Members
Officers
| NAME | COMPANY |
|---|---|
| Legal and General Investment Management America | |
| Anchorage Capital Group | |
| Headlands Technologies LLC | |
| Raymond James | |
| Fidelity Investments | |
| Garcia Hamilton & Associates | |
| USC Marshall School of Business | |
| Verizon | |
| Municipal Securities Rulemaking Board | |
| BlackRock | |
| ICE Data Services | |
| Colorado Public Employees’ Retirement Association | |
| MarketAxess | |
| Tradeweb Markets | |
| FINRA | |
| Siebert Cisneros Shank | |
| Government of the District of Columbia | |
| Bloomberg Intelligence | |
| Bank of America Merrill Lynch | |
| SMU Cox School of Business | |
| U.S. Securities and Exchange Commission | |
| R1 RCM Inc. | |
| Hilltop Securities |
- SEC Issues Agenda for Oct. 5 Meeting of the Fixed Income Market Structure Advisory Committee
Oct. 1, 2020 - SEC Issues Agenda for June 1 Meeting of the Fixed Income Market Structure Advisory Committee
May 28, 2020 - SEC Issues Agenda for February 10 Meeting of the Fixed Income Market Structure Advisory Committee
Feb. 6, 2020
- Recommendation for a Pilot Program for Block-Size Trades in Corporate Bonds
- Recommendation to Review the Oversight Framework of Electronic Trading Platforms
- Recommendation for an Exchange-Traded Products Classification Scheme
- Recommendations for Investor Education and Data on ETFs
- Recommendation to Establish a New Issue Reference Data Service for Corporate Bonds
- Recommendation Regarding Principal Transactions with Advisory Clients in Negotiated Municipal Underwritings
- Recommendation Regarding the Practice of Pennying
- Recommendation Regarding FINRA Proposal to Establish a Corporate Bond New Issue Reference Data Service
- Recommendation Regarding Investor Education on Retail Notes
- Recommendation Regarding Principal Transactions with Advisory Clients Selling Municipal Securities
- Recommendation Regarding Additional TRACE Reporting Indicators for Corporate Bond Trades
- Recommendation Regarding Timeliness of Financial Disclosures in the Municipal Securities Market
- Recommendation Regarding Modernizing Rule 17a-7 under the 1940 Act
- Recommendation Regarding Ways to Mitigate Conflicts of Interest in Credit Ratings
- Recommendation Concerning Pre-Trade Transparency in the Municipal Securities Market
- Recommendation Regarding Defining “Electronic Trading” for Regulatory Purposes
Meetings
Meeting Materials:
Corporate Bond Market Presentations:
- Gilbert Garcia Presentation
- Kumar Venkataraman Presentation
- Sonali Theisen Presentation
- Rick McVey Presentation
- Lee Olesky Presentation
Municipal Securities Market Presentations:
Bond Fund and ETF Presentations:
Background Materials:
- Technology and Electronic Trading Subcommittee Preliminary Recommendation
- Credit Ratings Subcommittee Preliminary Recommendation
- Municipal Securities Transparency Subcommittee Preliminary Recommendation
- A Survey of Microstructure of Fixed Income Markets
- BondCliQ Presentation
- FINRA Block Pilot Comment Summary
- TRACE Transparency Considerations
- Transparency Panel Presentation
- Webcast Archive
Background Materials:
- Discussion Document – Alternate Model and Other Potential Initiatives
- Municipal Securities Transparency Subcommittee Preliminary Recommendation
- Technology and Electronic Trading Subcommittee Preliminary Recommendation
- Background Information on Alternative Compensation Models for NRSROs
- Dick-Nielsen and Rossi – The Cost of Immediacy for Corporate Bonds
- Ottonello – The Impact of Benchmarking in Fixed Income Markets
- IOSCO – Principles for Financial Benchmarks
- Municipal Securities Transparency Subcommittee – Preliminary Recommendation 1
- Municipal Securities Transparency Subcommittee – Preliminary Recommendation 2
- ETFs and Bonds Funds Subcommittee Report
- FINRA-2019-008
- FINRA Regulatory Notice 19-12 (TRACE)
- ARRC Second Report
- ARRC FAQs
Last Reviewed or Updated: Feb. 24, 2025