Regulation of the Municipal Securities Market

As part of its mission to promote a fair and efficient market, the MSRB creates and maintains industry rules for municipal securities dealers and municipal advisors.

Participate in the Rulemaking Process

Market participants and the public can provide input on MSRB rules as they are developed for consideration by the Securities and Exchange Commission (SEC). Click the boxes below to view current and past MSRB rulemaking activity at key stages in the rulemaking process.

Requests for Comment

The MSRB solicits public comment on draft rule proposals and concept releases. 

SEC Filings

The MSRB files proposed changes to its rules with the SEC.

Rule Approval Notices

The SEC approves additions or changes to MSRB rules, which are announced in a regulatory notice.

Upcoming Changes

MSRB rules typically go into effect at a specified future date.