The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. MSRB rules govern the professional conduct of brokers, dealers, municipal securities dealers and municipal advisors. These rules are enforced by other regulatory authorities. Complaints about these market professionals may be directed to the regulatory authorities listed below or to the MSRB, which will direct the complaint to the appropriate authority. Call or email the MSRB at 703-797-6668 or firstname.lastname@example.org. To expedite the handling of your complaint, please be as specific as possible as to the nature of your complaint, including detail about the individual and/or firm involved. Please provide your contact information including:
Read the MSRB Investor Brochure to learn more about rules protecting investors and resolving disputes with dealers.
Submitting Municipal Market Complaints
Any investor, state or local government or other individual or entity that has reason to believe that an MSRB rule or the federal securities laws have been violated by a securities firm or municipal advisor (or by an associated person of a securities firm or municipal advisor) may file a complaint by completing a questionnaire on the Securities and Exchange Commission's Tips, Complaints and Referrals Portal or by sending a complaint to the U.S. Securities and Exchange Commission at the address below. Complaints against state or local governments or other issuers of municipal securities also may be filed using the online form or sent by mail to:
U.S. Securities and Exchange Commission
Office of Municipal Securities
100 F Street, NE
Washington, DC 20549
Filing Complaints Against FINRA Member Firms or Associated Persons
Investors, issuers or others with complaints against securities firms, individuals associated with securities firms or municipal advisors that are registered with the Financial Industry Regulatory Authority (FINRA) may use the FINRA's Investor Complaint Center. If you are unsure whether the firm is a FINRA member, you may check the MSRB’s registered dealer list. If the MSRB number starts with the letter “A,” the firm is registered with FINRA.
An investor who has a dispute with such a firm or individual may be able to file a claim for monetary damages with FINRA's arbitration program. For information about filing such a claim, visit FINRA's Arbitration and Mediation webpage.
To research the complaint history and professional background of a securities firm or associated individual, use FINRA's BrokerCheck website.
Complaints Against Bank Dealers
Complaints Against the MSRB
The MSRB seeks to ensure that accounting and audit complaints and other allegations of wrongdoing by a Board member or member of the MSRB staff are addressed promptly. A toll-free hotline (888-475-8376) managed by an independent service provider allows members of the public to report, on a confidential and anonymous basis, concerns about MSRB accounting or auditing matters or other potential wrongdoing. Members of the public may also contact the Corporate Secretary at email@example.com or at the following address:
Municipal Securities Rulemaking Board
1900 Duke Street, Suite 600
Alexandria, VA 22314
Attention: Corporate Secretary