Check Out MSRB's Revamped Monthly Update: June 2015

June 2015

New on EMMA®: Find Disclosure for Related Securities

The Municipal Securities Rulemaking Board (MSRB) has added a new feature to its Electronic Municipal Market Access (EMMA®) website that allows investors and others to access the full universe of disclosure information available for a municipal security in cases where new identification (CUSIP) numbers are assigned to portions of the bond after issuance. 

Related Securities

Related securities are created when, for example, a bond is partially “called” in connection with a current refunding. In this case, the original CUSIP is retired and new CUSIPs are assigned to the refunded and unrefunded portions. 


This new feature is helpful for investors in the newly created securities, as well as the issuer of the original security, who may want to refer to the official statement or other disclosures associated with the retired security. 

Upcoming Events

Calendar of Events

July 28, 2015: 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.

Recent Webinars

Preparing to Take the Pilot Municipal Advisor Representative Qualification Exam (Series 50) Webinar
The MSRB hosted a webinar to review of the content outline for the first qualifying exam for municipal advisors and instructions on how to register for the pilot exam. View the presentation.

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


June 16, 2015: MSRB Provides Access to the Full Universe of Disclosures for a Municipal Security

June 11, 2015: MSRB Seeks Comment on Alternative Standard of Independence for Investor Representative on its Board

June 1, 2015: MSRB Makes Moody's Public Finance Ratings Available on EMMA Today

Tell us what you think


The MSRB invites subscribers to share their feedback on the Monthly Update. Click here to take a short survey.

Regulatory Roundup

June 11: Request for Comment on Draft Amendments and Other Issues Related to MSRB Rule A-3 on Membership on the Board