Privacy Statement

The Municipal Securities Rulemaking Board (“MSRB”) has created this Privacy Policy to demonstrate its commitment to the privacy of users of this website accessible at, including the Electronic Municipal Market Access (EMMA®) system (“EMMA”) accessible at ( and, collectively, the "Website").  The Website is administered by the MSRB (“MSRB,” “we,” “us” or “our”).  Each user of the Website (“you” or “your”) expressly accepts and agrees to this Privacy Policy.  You may not use the Website if you do not accept and agree to this Privacy Policy. Therefore, please read this Privacy Policy carefully.  This Privacy Policy does not apply to personal information provided to us to fulfill a regulatory requirement, whether submitted through the MSRB Gateway or otherwise.  For other terms and conditions that apply to your use of the Website, please review our EMMA Terms of Use and MSRB Terms and Conditions. 

Information We Collect
In general, the Website collects personal information only when voluntarily submitted by you.  For example, you may provide us your personal information in connection with submitting a comment or question through the contact page, signing up for email alerts, providing us with feedback or creating a customized profile on EMMA. 

When you access the Website our web servers may automatically recognize and collect information regarding your referring domain, your type of web browser, operating system software, screen resolution, cookie preferences and similar technical data.  None of this information is personally identifiable, and we use this information only in the aggregate to measure overall Website usage patterns and trends.

We may use a technology called "cookies" to provide you with tailored information. A cookie is a small piece of data that the Website can send to your browser, which may then be stored on your hard drive so the Website can recognize you as you browse between web pages on the Website. These cookies may collect information about the operating system and browser that you are using, and the cookies accumulate and report anonymous, statistical information on Website usage. The use of cookies shows us how visitors to the Website navigate through the Website and thus allows us to make our Website more responsive to your needs by delivering a better and more personalized experience to you. Like many other websites, the MSRB uses third-party web analytics services, including Google Analytics, to analyze Website usage and related information that may be collected through cookies. If you would like to see how Google Analytics collects and processes data, you may go to “How Google uses data when you use our partners’ sites or apps” (located at, or any other URL Google may provide from time to time). We may use cookies that (1) remain on your computer only while you browse the Website and for a short time thereafter, and (2) remain on your computer after you navigate away from the Website. These cookies may identify or track personal information previously provided by you.

If you do not wish to have cookies sent to your browser, you can change the settings on your browser to stop it from automatically accepting cookies. While rejecting cookies will not normally affect your browsing or your ability to access the features on the Website, you may find that certain navigational elements of the Website have limited functionality.

How We Use Your Personal Information
We do not sell your personal information to third parties for commercial purposes.  However, we may use your personal information for the following:

  • for the specific purpose for which the personal information was provided (for example, to sign up for email alerts, to create a customized profile on EMMA or to submit feedback); 
  • to provide you with information, products or services, or access to customized content;
  • to improve the content, appearance and utility of the Website;
  • to trace your use of the Website for internal research purposes;
  • to notify you of updates or changes to the Website or any products or services we offer or provide through the Website;
  • to provide any necessary notices or email communications to you;
  • in any other way we may describe when you provide personal information;
  • for any other purpose with your consent; and
  • to comply with certain contractual, legal or regulatory obligations.

We reserve the right to disclose personal information when we believe that disclosing such information is necessary to identify, contact, or bring legal action against someone who may be causing injury or interference with (either intentionally or unintentionally) our rights or property, other Website users, or anyone else that could be harmed by such activities.  We may also disclose personal information without notice to you in response to a subpoena, when requested from a United States government regulatory body or law enforcement agency, or when we believe such disclosure is required under our obligations as a self-regulatory organization.    

Accessing and Changing Your Information
You may obtain a summary of your personal information on record with us.  If your personal information changes, you may update it by contacting us at the address listed below.  If you have any other questions or comments about this Privacy Policy or our privacy practices, you may send a message through our Contact page or write to Municipal Securities Rulemaking Board, 1300 I Street NW, Suite 1000, Washington, DC, 20005. When contacting us, please be sure to provide us with your exact email address, name, address and/or telephone number(s) to help us handle your request correctly.

We are committed to keeping personal information secure, and we have reasonable technical, administrative and physical safeguards in place to protect your personal information from loss, misuse or alteration.  Although we use reasonable and proper measures to safeguard against unauthorized disclosure of your personal information, because such information can be accessed through the Internet, no assurances can be provided that your personal information will never be disclosed in a manner that is inconsistent with this Privacy Policy.

Children’s Privacy
We do not knowingly collect or use any Personal Information through our Website from users under 13 years of age. No information should be submitted to this Website by guests under 13 years of age. 

Leaving the Website
After leaving the Website, whether via a link contained on the Website or through the use of your web browser or some other navigational tool, this Privacy Policy is no longer in effect.  We are not responsible for the privacy or security policies or practices employed by any other website.  We make no guarantees, representations or warranties as to the privacy or security policies or practices of any other website, including websites that may be reached by links from the Website.

Changes to this Privacy Policy
We may revise this Privacy Policy at any time. You are bound by any changes to this Privacy Policy upon our posting of such changes on the Website. You should check this Privacy Policy often to make certain that you are aware of the most current provisions of this Privacy Policy. On and after the date an updated Privacy Policy is posted on the Website, your use of the Website will be governed by and subject to such updated Privacy Policy. 

Trademark and Copyright Notices
"Municipal Securities Rulemaking Board," "Electronic Municipal Market Access" and "EMMA" are either registered or unregistered trademarks of MSRB. 

This Privacy Policy was last updated in September 2016.