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Contact: Jennifer A. Galloway, Chief Communications Officer
               202-838-1500
               jgalloway@msrb.org

MSRB LETTER TO SEC INVESTOR ADVOCATE HIGHLIGHTS MUNICIPAL MARKET PRACTICES THAT MAY AFFECT RETAIL INVESTORS

Washington, DC – In a letter to the Securities and Exchange Commission’s Office of the Investor Advocate this week, the Municipal Securities Rulemaking Board (MSRB) emphasized its concerns about municipal market practices that pose risks for retail investors, and reiterated its commitment to enhancing transparency and fairness in the municipal market through a continued focus on pricing and disclosure.

“Investor protection is at the core of the MSRB’s mission,” said MSRB Executive Director Lynnette Kelly. “We monitor trends, products and practices in the municipal market with an eye toward those that may present risks to retail investors. We are proud to support the important work of the SEC’s Investor Advocate and help flag areas of concern for municipal bond investors.”

The Securities Exchange Act of 1934 requires the Office of the Investor Advocate to report annually to Congress, and the MSRB regularly provides input for the report.

Read previous MSRB letters to the Investor Advocate here.

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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