MSRB Monthly Update - January 2012

Municipal Securities Rulemaking Board sent this bulletin at 01/13/2012 09:55 AM EST

The MSRB is hosting an education and outreach seminar on Wednesday, February 22, 2012 in Dallas, Texas.

The event will provide an opportunity for municipal market professionals to learn about MSRB initiatives and current rulemaking to protect investors and municipal entities.

Each day, the MSRB lists on EMMA the top 10 most frequently traded municipal securities from the prior trading day.

Highlight of the Month

MSRB Seeks Seven New Board Members

The Board of Directors of the MSRB is seeking qualified applicants to fill seven positions on the Board beginning October 1, 2012. Read more or begin the application process.

New and Noteworthy

2011 Annual Report Now Available

The MSRB recently published its 2011 Annual Report, which outlines accomplishments for the year and includes audited financial statements for fiscal year 2011. The report details activities aimed at achieving the MSRB’s investor and municipal entity protection mission, and for implementing the municipal market provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Professional Qualifications for Municipal Advisors

The MSRB is in the process of establishing minimum professional qualifications for municipal advisors as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The MSRB expects to survey registered municipal advisors after the Securities and Exchange Commission (SEC) establishes a final definition of “municipal advisor” to ensure municipal advisors have a full opportunity to participate in the professional qualification development process.

Learn more about professional qualifications for municipal advisors and how to participate in the survey.

EMMA Market Statistics

Municipal Trading Down 15.2% in 2011*

In 2011, par amount of municipal securities traded totaled $2.85 trillion, down 15.2 percent from the $3.36 trillion traded in 2010. In 2011, customer purchases accounted for 47.6 percent of trades, customer sales accounted for 34.1 percent and inter-dealer trades accounted for 18.3 percent.

The par amount of municipal securities traded annually has decreased considerably in the last five years, with 2011 volume less than half of the record $6.34 trillion traded in 2007. Despite the decrease in par amount traded, the number of municipal trades remained steady in 2011, with the number of trades decreasing less than one percent to 10.30 million trades, compared to 10.37 million trades in 2010.

For more information or other statistics on municipal trading activity, continuing disclosures or variable rate resets, visit the MSRB's EMMA website.

*Based on EMMA Market Statistics as of January 3, 2012.

Regulatory Roundup

MSRB Seeks Board of Directors Applicants (January 9, 2012)

SEC Approves Amendments to MSRB Rule G-16 and Rule G-9 (December 19, 2011)

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