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 Last month, after soliciting input from key stakeholders and market
participants, and engaging in extensive strategic planning, the MSRB
established new strategic goals that will guide the organization for the next
several years. The new goals emphasize the importance of data, information and
education in effective regulation of the municipal securities market.
We are emerging from an intense period of rulemaking driven in
part by the imperatives of the Dodd-Frank Act and the 2012 Securities and
Exchange Commission Report on the Municipal Securities Market. It’s an
appropriate time for the MSRB to shift its focus to, among other things, assisting regulated entities
with their compliance efforts. Our updated goals prioritize initiatives such as
issuing guidance, advisories and FAQs that will support that endeavor.
In addition to continuing to focus on necessary market oversight and
the Electronic Municipal Market Access (EMMA®) website,
the new goals emphasize the MSRB’s role as a self-regulatory organization, the
utility of market data and financial stewardship. We are confident
these priorities represent the interests of our stakeholders and a continued
path to a fair and efficient municipal securities market. I look forward to providing updates on how
the MSRB is fulfilling its mission and its commitment to ensuring a fair and
efficient municipal securities market. Read more about the MSRB’s new strategic goals.
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 The MSRB recently provided this Compliance Advisory for Municipal Advisors to aid municipal advisor firms with understanding MSRB rules and identifying potential compliance risks. The advisory addresses applicable MSRB rules implemented since the publication of the MSRB’s first compliance advisory for municipal advisors. Keep an eye out for a similar dealer compliance advisory coming soon.
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 MuniEdPro® Course for Investors
This week,
the MSRB launched a free, interactive online course to help investors
understand how municipal bonds work and assess how they might fit into a
balanced portfolio. The course, “Exploring Municipal Bonds: A Course for
Investors,” uses real-world scenarios to show investors where to get
information about municipal bonds and to highlight considerations for selecting
an individual security.
The
municipal bond investor course is part of MSRB’s MuniEdPro® suite
of interactive courses about municipal market activities and regulations. Log into MuniEdPro® today to take the course at no cost. Other
topics in the series include primary market offering disclosure
responsibilities, roles and responsibilities of market participants in a
primary offering, and the role of the regulator. The MuniEdPro® suite also
includes a free course designed for municipal government professionals who
finance public projects with municipal bonds, “Being an Informed Municipal Bond
Issuer.”
For more information about MuniEdPro® or to inquire about subscription options, contact Ritta McLaughlin at rmclaughlin@msrb.org or 202-838-1306.
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 Amendments to the MSRB’s Customer
Complaint and Related Recordkeeping Rules for Municipal Advisors and Dealers
Thursday, July 13, 2017
3:00 p.m. – 4:00 p.m. ET
Get ready
for the October 2017 changes to MSRB rules on customer complaints and related
recordkeeping for municipal advisors and dealers by attending a July webinar. The free
webinar will cover new annual customer/client notification requirements, as
well as new electronic complaint log product and problem codes. Register here.
In Case You Missed It
The MSRB recently
hosted two free webinars for municipal advisors that are now available on demand for one continuing
education credit each. “Municipal Advisor Solicitor Guidance” covers the recently published guidance on the application
of MSRB rules to solicitor municipal advisors, and “Municipal Advisor
Representative Qualification Examination (Series 50 exam)” reviews the standards of
professional qualification for municipal advisors and the enrollment process
for taking the Series 50 exam.
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