Board Advisory Groups

In response to stakeholder feedback and the value of previous advisory groups in support of the MSRB’s work and its mission, the MSRB Board of Directors in FY2019 established three specialized Board advisory groups, consisting of qualified individuals representing diverse market perspectives and organizations. The groups provide subject-matter expertise to the Board on certain municipal securities market matters. Each advisory group has Board member liaisons who help oversee advisory group activities. A standing Professional Qualifications Advisory Committee advises the Board on development of the MSRB’s professional qualification examinations. 

Compliance Advisory Group

The Compliance Advisory Group provides input to the Board on the development of compliance resources and tools for brokers, dealers and municipal securities dealers and municipal advisors, such as checklists, sample templates, rule summaries and other educational material to enhance their understanding of MSRB rules and to assist their efforts in developing a compliance program reasonably designed to achieve compliance with MSRB rules. Dealers and municipal advisors are key intermediaries in the municipal securities market, and the MSRB, through the Compliance Advisory Group, seeks the input and expertise of these market professionals to help identify those areas where compliance clarification and assistance is warranted and will be most impactful.

Members
Kathy Aho, President, Springsted Incorporated

Jonas Biery, Business Services Manager, Bureau of Environmental Services, City of Portland
Mark Borrelli, General Counsel, Hutchinson, Shockey, Erley & Co.
Joey Frebes, Senior Vice President, KeyBanc Capital Markets
George Hinchcliff, Director, FIC Compliance Advisory, RBC Capital Markets
Phil Jerome, Managing Director, Compliance, Charles Schwab & Co., Inc.
Ben Juergens, Executive Director, Morgan Stanley
Leo Karwejna, Managing Director and Chief Compliance Officer, PFM Financial Advisors
Jessica LeBlanc, Senior Compliance Manager, Edward Jones
Kathy Weatherholt, Vice President, Compliance, George K. Baum & Company
Mark Young, Managing Director, KNN Public Finance, LLC
 

Board Member Liaisons

Julia H. Cooper
Jerry W. Ford
Donna Simonetti

Retail Investor Advisory Group

The Retail Investor Advisory Group provides input to the Board on municipal market rules, practices, transparency and education as they relate to retail investor protection issues. The Retail Investor Advisory Group provides access to a broad cross-section of investor expertise.

Members
Jack Blumenthal
Matthew Boardman, Managing Director and Head, US Wealth Management Fixed Income, RBC Wealth Management
Joseph Brady, Executive Director, North American Securities Administrators Association
Chris Kendall, Vice President, Fixed Income Trading, Charles Schwab & Co., Inc.
Wesley Ringo, Senior Advisor, Legal and Regulatory, Capital Forensics, Inc.
Anne Ross, Muni Credit & Compliance Advisors LLC
Joseph Spivack, Angel Investor, Spivack & Company

Board Member Liaisons
Joseph Darcy
Ronald Dieckman
Daniel Kiley
Beth Wolchock

Municipal Fund Securities Advisory Group

The Municipal Fund Securities Advisory Group provides input to the Board on municipal market rules, practices and educational materials regarding 529 savings plans and programs designed to implement the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014. The Municipal Fund Securities Advisory Group provides technical support and other assistance in refining the data the MSRB collects about 529 plans and ABLE programs.

Members
Mary Anne Busse
James Canup, Partner, Hirschler Fleischer
Paul Curley, Director of College Savings Research, Strategic Insight
Andrea Feirstein, Managing Director, AKF Consulting Group
Nathan Groff, Owner and Senior Executive Officer, Intuition LLC
John Heywood
Mary Lehman, Senior Director, Tuition Financing, 529 College Savings Program Manager, TIAA
Sandy Madden
Christopher T. McGee, General Counsel, Virginia 529 | ABLEnow
Jennifer Selliers, Director of Internal Compliance, State of Tennessee Department of Treasury

Board Member Liaisons
Richard K. Ellis
Manju S. Ganeriwala


Professional Qualifications Advisory Committee

The Professional Qualifications Advisory Committee (PQAC) advises the Board on development of the MSRB’s professional qualification examinations in accordance with the Standards for Educational and Psychological Testing. The Committee is composed of two subcommittees, each with 10­-15 municipal market practitioners representing a cross-section of the industry and possessing specific industry expertise. The subcommittees meet throughout the year to review municipal market content that should be included within industry examinations and to ensure the material is consistent with the regulatory requirements and job responsibilities of municipal market professionals. The subcommittees are also responsible for drafting and revising examination questions.

 

 


Contact

Leah Szarek
Director, Communications
lszarek@msrb.org
202-838-1500