Spotlight on Fixed Income Market Structure Advisory Committee (FIMSAC)

The committee will provide 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

News

• 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

Recommendations of the Fixed Income Market Structure Advisory Committee

• 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 Archives

Public Comments

Submit comments

• 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