On April 9, the Securities and Exchange Commission (SEC) held a meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC, the Committee, or the Advisory Committee). The Committee approved a recommendation from the Transparency Subcommittee on a “Pilot Program to Study the Market Implications of Changing the Reporting Regime for Block-Size Trades in Corporate Bonds.” The meeting also included panel discussions on: (1) Liquidity Considerations for Bond ETFs; (2) Retail Investor Disclosure and Education; and (3) Electronic Trading in the Retail Market.

FIMSAC Chairman Michael Heaney recommended that the members start to consider other topics that could be discussed by the group in future meetings.

A summary report is here