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

MSRB PUBLISHES 2010 ANNUAL REVIEW AND NEW RULE BOOK

Alexandria, VA The Municipal Securities Rulemaking Board (MSRB) today published its 2010 Annual Review, which outlines accomplishments for the year and includes audited financial statements for fiscal year 2010. The report details activities aimed at achieving the MSRB’s investor and municipal entity protection mission. The MSRB also today published a new MSRB Rule Book describing rules for municipal securities dealers and municipal advisors that are effective as of January 1, 2011.

Highlights of the 2010 Annual Review include:

  • The MSRB’s expanded mission and jurisdiction under the Dodd-Frank Wall Street Reform and Consumer Protection Act
  • New rulemaking initiatives for municipal securities dealers and municipal advisors, and expanded regulatory coordination and enforcement support
  • Data and documents disseminated to the public on the MSRB’s Electronic Municipal Market Access (EMMA) website that provide market transparency
  • Expanded outreach activities devoted to discussing MSRB rulemaking initiatives
  • Municipal market research reports and market leadership activities

The 2011 MSRB Rule Book includes all MSRB rules and rule interpretations as of January 1, 2011. The most current version of MSRB rules can be found in the rules section of the MSRB’s website, at www.msrb.org.


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.