MSRB Annual Report 2024
| MSRB’s annual report for the 2024 fiscal year provides an overview of the organization’s regulatory initiatives, operational performance, and financial position. The report highlights the MSRB’s ongoing efforts to enhance market transparency, streamline regulation, and engage stakeholders in promoting a fair and efficient municipal securities market. The report also includes audited annual financial statements for the fiscal year that ended September 30, 2024, which provide transparency on how the organization manages its resources and financial reserves. | ||
| “MSRB serves an essential role in safeguarding the integrity of our nation’s $4 trillion capital market, which finances stronger, more resilient communities for all Americans. As MSRB enters its 50th year, its leadership and staff are evermore dedicated to the mission of protecting and strengthening the market for the bonds that make America stronger.” Warren "Bo" Daniels, Board Chair | |
Modernizing Market Regulation
- Amended MSRB Rule G-14 to reduce trade reporting time to one minute.
- Amended MSRB Rule G-47 to provide new time of trade disclosure scenarios and update certain interpretive guidance.
- Amended MSRB Rule G-27 to allow dealers to conduct supervisory activities remotely.
Enhancing Market Transparency through Technology
- Expanded EMMA's yield curves and indices with the addition of the Tradeweb AAA Municipal Curve.
- Advanced the development of a modernized EMMA platform with a redesigned interface and user experience scheduled to launch in 2025.
Advancing the Public Trust
- Engaged with stakeholders through a series of town halls to solicit feedback on MSRB's budget and fee-setting process.
- Reaffirmed its commitment to establish reasonable fees that are necessary or appropriate to advance its congressional mandate. To this end, MSRB has issued an RFI to inform potential modifications to its fee structure and rate card model.
- Streamlined MSRB's Education Center and professional qualifications web pages to make it easier for participants to access and understand comprehensive information on the municipal securities market and qualifications requirements.
