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Date:

Contact: Aleis Stokes, Chief External Relations Officer
               202-838-1500
               astokes@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 July 24-25, 2024, holding the final quarterly meeting of fiscal year 2024. The Board will discuss its priorities for the next fiscal year and approve the FY 2025 budget to advance its FY 2022-2025 Strategic Plan. The Board will also hold FY 2025 officer elections for MSRB Board Chair and Vice Chair. Additional highlights of the Board discussion will include:


Market Regulation

The Board will discuss regulatory matters and receive updates on several ongoing initiatives including:

  • Rule G-12(c): Potential codification of confirmation requirements for certain inter-dealer trades.
  • Rule D-15: Potential modifications to the definition of a sophisticated municipal market professional (SMMP).
  • Rule G-27: Industry feedback in connection with supervisory obligations in the post-pandemic workplace environment. 
  • Rate Card: Consider the publication of a request for information regarding potential modifications to the rate card model for assessing fees on regulated entities.


Market Transparency and Market Structure 

The Board will receive updates on the following areas related to market transparency and structure:

  • The modernization of the Electronic Municipal Market Access (EMMA) website and related market transparency systems. This will include a demonstration of stakeholder-driven updates that will enhance EMMA’s interface and user experience.
  • A potential initiative to collect pre-trade municipal market data to enhance market transparency and whether to publish a concept release on the topic for industry feedback.
  • An information session on blockchain and the emerging use of this technology in the municipal bond market.

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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