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Contact: Bruce Hall, Director, Communications
                202-838-1500
                bhall@msrb.org

 

MSRB ANNOUNCES DISCUSSION TOPICS FOR QUARTERLY BOARD MEETING

Washington, DC – The Board of Directors of the Municipal Securities Rulemaking Board (MSRB) will meet on January 24-25, 2024, holding the second meeting of fiscal year 2024 to advance its FY 2022-2025 Strategic Plan.

Annual Rate Card

The Board will discuss comments received in response to the MSRB’s 2024 rate card filing with the SEC, establishing market activity fees and the municipal advisor fee for the 2024 calendar year. The MSRB’s new rate card process annually adjusts rates assessed on regulated entities to ensure a timelier return of any excess revenue (i.e., surplus) to regulated entities and to better manage the organization’s reserve funds.

Market Regulation

The Board will consider whether to modernize MSRB Rule G-27, on dealer supervision, to reflect changing work patterns since the COVID-19 pandemic and to further harmonize MSRB dealer supervisory requirements with FINRA supervisory rules.

The Board also will receive an update on industry input on its request for comment on draft amendments to MSRB Rule G-12(c) to consolidate existing guidance on certain inter-dealer confirmations requirements into a single streamlined rule provision.

Additionally, the Board will continue its discussions on a potential pre-trade market transparency initiative.

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. The MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. The MSRB is a self-regulatory organization governed by a board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.

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