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Daily Rules, Proposed Rules, and Notices of the Federal Government

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65397; File No. SR-MSRB-2011-14]

Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Withdrawal of Proposed Rule G-36, on Fiduciary Duty of Municipal Advisors, and a Proposed Interpretive Notice Concerning the Application of Proposed Rule G-36 to Municipal Advisors

September 26, 2011.

On August 23, 2011, the Municipal Securities Rulemaking Board (the "MSRB") filed with the Securities and Exchange Commission (the "Commission") a proposed rule change pursuant to Section 19(b)(1) of the Securities Exchange Act of 19341 and Rule 19b-4 thereunder,2 consisting of proposed Rule G-36 (on fiduciary duty of municipal advisors) and a proposed interpretive notice concerning the application of proposed Rule G-36 to municipal advisors. Notice of the proposed rule change was published in theFederal Registeron September 12, 2011.3 The Commission received no comments on the proposed rule change. On September 9, 2011, the MSRB withdrew the proposed rule change (SR-MSRB-2011-14).4

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.5
Elizabeth M. Murphy, Secretary.
ACTION: 517 CFR 200.30-3(a)(12).