Contact:              Jennifer A. Galloway, Chief Communications Officer
                          (703) 797-6600
                          jgalloway@msrb.org

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published its 2009 Annual Review  that outlines accomplishments for the year and includes audited financial statements for fiscal year 2009.  The report details activities in each of the programs aimed at achieving the MSRB’s investor protection mission.

Program highlights include:

• The launch of continuing disclosure documents on the Electronic Municipal Market Access (EMMA) website
• The availability of all-electronic official statements on EMMA
• The availability on EMMA of variable rate securities interest rate data
• The publication of extensive guidance for municipal securities dealers on required disclosures of material events to customers
• The publication of guidance for dealers on Build America Bonds
• The publication of the first MSRB Fact Book

Financial highlights for fiscal 2009 include:

• Revenues of $19,627,984, a decrease of $2,522,765 over 2008.
• Expenses of $21,281,260, an increase of $2,719,709 over 2008.
• Unrestricted net assets of $26,386,488, a decrease of $1,653,276 over 2008.