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 With Congress back in session in September, the MSRB took the opportunity to address members of Congress on a number of municipal market topics.
On September 22, 2016, MSRB Executive Director Lynnette Kelly provided an update to Congress on municipal market transparency initiatives at a hearing of the Capital Markets and Government Sponsored Enterprises Subcommittee of the House Financial Services Committee. The hearing focused on the relationship among financial regulators, use of economic analysis in rulemaking and the MSRB’s work to foster a greatly enhanced level of transparency in the $3.8 trillion municipal securities market. Watch the testimony here.
A few days earlier in a letter to Congress on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the MSRB described the completion of its core regulatory framework for municipal advisors and the complementary education and transparency initiatives aimed at protecting municipal entities and obligated persons. Read the September 19, 2016 letter.
And earlier in the month, the MSRB offered recommendations to the Congressional Task Force on Economic Growth in Puerto Rico to assist in its preparation of a
report identifying factors that could affect economic growth in Puerto Rico. Among the MSRB’s recommendations were five key principles to assist
Puerto Rico issuers at all levels of government in maintaining reliable and cost-effective access
to capital, and to help ensure that the path to economic growth is supported by a robust,
transparent and fair municipal market. Read the September 2, 2016 letter.
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In an effort to improve investors’ ability to assess the cost of transacting in municipal bonds, the MSRB advanced a plan to require dealers to provide retail investors information about compensation dealers receive when buying municipal bonds from, or selling them to, investors. Currently, retail investors in municipal securities receive less information about the cost of their transactions than investors in the equity market. The MSRB’s plan, which was submitted to the Securities and Exchange Commission (SEC) for approval, seeks to provide municipal retail investors with meaningful and useful pricing information to help them better evaluate the overall cost of their transactions. Learn more.
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 MSRB Webinar: Recent Enhancements to EMMA®
Voluntary Bank Loan Disclosure Submission
Thursday, October 13, 2016
3:00p.m. - 4:00p.m. ET
MSRB staff will demonstrate recent enhancements to the EMMA website that facilitate the filing of voluntary bank loan disclosures. Register here.
MSRB Webinar: Request for Comment on Draft Rule Amendments on G-3 Professional Qualification Requirements
Thursday, October 20, 2016
3:00p.m. - 4:00p.m. ET
MSRB staff will provide an overview of the Request for Comment on Draft Rule Amendments to MSRB Rule G-3 on professional qualifications to establish continuing education requirements for certain associated persons of a municipal advisor. Register here.
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 October 3, 2016: MSRB Seats New Board and Announces Priorities for New Fiscal Year
October 3, 2016: SEC, FINRA, MSRB to Hold Compliance Outreach Program for Municipal Advisors
September 30, 2016: MSRB Requests Comment on Establishing Continuing Education Requirements for Municipal Advisors
September 27, 2016: MSRB Seeks Comment on Creating New Rule to Clarify Minimum Denomination Provisions
September 26, 2016: MSRB Improves Bank Loan Disclosure on EMMA Website
September 20, 2016: MSRB Updates Congress on Completion of Core Regulatory Framework for Municipal Advisors
September 14, 2016: MSRB to Facilitate Municipal Market Research with New Academic Data Product
September 6, 2016: MSRB Leverages Learning Technology to Offer Municipal Market Education
September 2, 2016: MSRB Seeks Mark-up Disclosure for Municipal Securities Transactions
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