MSRB Monthly Update: May 2015

May 2015

Moody’s Public Finance Ratings Coming to MSRB’s EMMA Website on June 1, 2015

The Municipal Securities Rulemaking Board (MSRB) will make public finance ratings from Moody's Investors Service available for free on its Electronic Municipal Market Access (EMMA®) website on June 1, 2015. The addition will give investors and the public ready access to ratings from all major agencies together with other key information about a municipal security. 

Credit ratings on EMMA are displayed along with the trading and disclosure information for each municipal security, and are also integrated into EMMA’s advanced search function and price discovery tool. Read more about ratings information available on EMMA.

Upcoming Events

Calendar of Events

June 11: MSRB Webinar: Preparing to Take the Pilot Municipal Advisor Representative Qualification Exam (Series 50): During this free webinar, MSRB staff reviews the content outline for the first qualifying exam for municipal advisors and instructions on how to register for the pilot exam. Register for the webinar.

July 28: MSRB and Municipal Forum of New York Education and Outreach Seminar: The MSRB and The Municipal Forum of New York will host an education and outreach seminar at the Marriott New York Downtown, Grand Ball Room, 85 West Street, New York, NY. The program will include a look at the municipal market's past, present and future as the MSRB commemorates its 40th anniversary in 2015. Register for the seminar.


Recorded Webinars

April: Amendments to MSRB Rule G-3 on Professional Qualification Standards for Municipal Advisors Webinar. Watch a recording of the webinar.

March: MSRB Rule G-44 on Supervisory and Compliance Obligations of Municipal Advisors, and Amendments to MSRB Rules G-8 and G-9 Webinar. Watch a recording of the webinar.

Interested in the Municipal Advisor Pilot Test?

Study Guide

The MSRB provides ongoing details via email about the MSRB's Municipal Advisor Representative Qualification Examination (Series 50), how to make an appointment to take the pilot and ways to prepare. Sign up to receive updates about the pilot exam.

Recent Press Releases


May  26: MSRB to Require Additional Post-Trade Data for Display on EMMA

May 19: MSRB Publishes First Quarter 2015 Municipal Market Statistics

May 6: MSRB Publishes Updated Report on Timing of Annual Financial Disclosures by Issuers of Municipal Securities

April 22: MSRB Releases Content Outline for First Municipal Advisor Representative Professional Qualification Exam


April 15: MSRB Seeks SEC Approval of Cornerstone Conduct Rule for Municipal Advisors


March 17: MSRB Increases Development Fee for Professional Qualification Exams

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Regulatory Roundup

May 26: SEC Approves Amendments to MSRB Rule G-14 and Real-Time Transaction Reporting System

May 8: Proposed Rule Change Consisting of Proposed New Rule G-42, on Duties of Non-Solicitor Municipal Advisors, and Proposed Amendments to Rule G-8, on Books and Records to be Made by Brokers, Dealers, Municipal Securities Dealers, and Municipal Advisors

May 8: Proposed Rule Change Consisting of Amendments to the MSRB Rule G-14 RTRS Procedures, and the Real-Time Transaction Reporting System and Subscription Service

May 7: Specifications for the Selection of Examination Questions and Content Outline for the Municipal Advisor Representative Qualification Examination (Series 50)

April 22: MSRB Files Content Outline for Municipal Advisor Representative Qualification Examination (Series 50)

March 17: MSRB Amends Fees Charged for Qualification Examinations