The Municipal Securities Rulemaking Board (MSRB) developed this document to provide information for Isser, Obligor and Agent Organizations about the Organization Account Setup process.
What is an Organization Account?
• An Organization account allows users to submit all types of continuing disclosure and primary market filings to EMMA.
• It offers shared access by multiple users and allows the organization to better manage disclosure filing.
• MSRB must review and approve documentation before the account is activated.
Who needs to have an Organizational Account?
Organization Accounts are used by Issuers (I), Obligors (OP) and Agents to submit the following:
• Continuing Disclosure submissions (SEC Rule 15c2-12 disclosures, including annual/periodic filings) (I, OP)
• Voluntary Financial Information* (I, OP)
• Voluntary Official Statement and Advanced Refunding Document submissions (I)
• Presale Document filings (I)
• 529 College Savings Plan disclosure documents (I)
NOTE: An Agent organization account is used to submit disclosures on behalf of Issuers and Obligors to EMMA.
What Organizational Role Should I Choose?
If you are unsure if your organization role is either an Issuer, Obligor or Agent, contact your Bond Counsel or Legal Counsel for guidance. Refer to the organization role definitions listed below:
• ISSUER – A state, territory, political subdivision, municipality, or governmental agency or authority that raises funds through the sale of municipal securities.
• OBLIGOR – A party having a financial obligation or arrangement to make the payment of all or part of debt service on municipal securities. The obligor is often the issuer but may be a conduit borrower of municipal securities proceeds.
• AGENT – Certain organizations offer to act as agents for dealers, municipal advisors, issuers, and obligors to make data and disclosure submissions on their behalf.
What Documentation Is Required to Set Up an Organization Account?
Issuers, Obligors and Agents will be required to provide two separate forms of identification to complete organization account sign-up. For more details on what documentation is required specifically for your role, refer to the MSRB Organization Account Setup Manual for Issuers, Obligors & Agents.
Do I Need to Set Up a Separate Agent Organization Account for Each Client Organization I Act as an Agent on Behalf of?
You only need to set up one single Agent organization account. An MSRB Agent organization account can act as an agent for multiple clients. You should manage all your clients under one Agent organization account. To establish and manage your organization’s agent relationships and the submission system permissions for your Agent organization’s client relationship, refer to the Gateway User Manual for Issuers, Obligors and Agents
How Many Master Account Administrators Can an Organization Account Have?
An organization account can only have one designated Master Account Administrator (MAA). The MAA can however grant access rights to an individual who has a user account under the organization Account Administrator (AA). The designated AA access role will have most of the same admin rights that the MAA has to manage user accounts in the organization.
(Note: there are some admin rights that the MAA has that the AA will not have). Refer to the Gateway User Manual for Issuers, Obligors and Agents for instructions on how to designate an Account Administrator.
