It's Your Deal: Resources for Municipal Securities Issuers

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Is Your Municipal Advisor Qualified?

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If you work with a municipal advisor, you should be aware that by September 12, 2017, any individuals providing municipal advisory services must have passed the "Series 50" exam developed by the Municipal Securities Rulemaking Board (MSRB). After September 12, 2017, any municipal advisor who does not hold the Series 50 registration, cannot perform municipal advisory activities. The Series 50 exam is designed to ensure that municipal advisors meet professional qualification standards.

If you are working with a municipal advisor or start a new engagement with a municipal advisor, it would be prudent to confirm that the municipal advisor has passed the Series 50 exam or is planning to do so by the September 12 deadline. Doing this due diligence can help avoid a disruption in the municipal advisory services you receive, including preventing an impact to your deal team. Find the names of individuals who have passed the Series 50 exam on the MSRB’s website.

Register for an upcoming webinar to learn more about what to expect from working with a municipal advisor (more information in the Events section below).

Featured Video: Hear from Government Finance Professionals about How They Use EMMA®

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State and local government finance professionals have access to a powerful website with easy-to-use tools and real-time data to help them make more informed decisions about issuing municipal bonds. A new video from the MSRB captures stories from chief financial officers, finance directors and other municipal finance leaders about how they utilize the Electronic Municipal Market Access (EMMA®) website. A second video in the series describes how these professionals use EMMA to fulfill their ongoing disclosure obligations and effectively communicate with investors.

The MSRB wants to hear from you. Tell us how you use the EMMA website. Your story may be featured in an upcoming issue of It's Your Deal. 

Complimentary Online Course Provides Municipal Bond Education and CPE Credit

To increase awareness of how state and local governments raise capital, the MSRB provides a state-of-the-art online course that enhances educational resources available for municipal government professionals. "Being an Informed Municipal Bond Issuer" is a complimentary course that is part of MuniEdPro® – the MSRB's suite of interactive online courses designed to provide up-to-date content relevant to municipal market activities and regulations. 


Senior government finance professionals helped the MSRB create real-world scenarios for this course that allow learners to assume the role of a municipal bond issuer. Upon meeting course requirements, learners can obtain continuing professional education credit at no cost. The course is helpful for anyone seeking knowledge about the municipal bond issuance process and individuals can take the course through the MuniEdPro® platform on the MSRB's website. Organizations that wish to incorporate the course content into an in-house learning management system can contact the MSRB to obtain a copy.


Register for MuniEdPro® to get started with the course or view the current course catalog. Also, access the MSRB’s Education Center for other resources. For more information, contact Ritta McLaughlin, Chief Education Officer, at or 202-838-1306.

MSRB Outreach Events

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The MSRB conducts in-person and webcast educational outreach events for state and local government organizations to highlight tools and resources to empower bond issuers at the deal table. At MSRB outreach events, participants can learn about the regulatory protections governing what issuers should expect from municipal finance professionals; bond issuers' obligations related to continuing disclosure; and useful features of the MSRB's Electronic Municipal Market Access (EMMA®) website specifically for issuers. To inquire about having the MSRB participate in an event, contact Ritta McLaughlin, Chief Education Officer, at or 202-838-1306.

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Upcoming Webinar:

What to Expect from Your Municipal Advisor

Thursday, August 10, 2017

3:00 - 4:00 p.m. ET

During this free educational webinar, MSRB staff will provide information aimed at helping issuers of municipal securities better understand what to expect from their municipal advisor. Participants will learn about MSRB rules that regulate the activities of municipal advisors and hear about the standards of professional qualifications for municipal advisors—including the Municipal Advisor Representative Qualification Examination (Series 50 exam). By September 12, 2017, municipal advisors must pass the Series 50 exam to engage in municipal advisory activities. 

It's Your Deal is a new quarterly resource guide published by the MSRB to provide objective and useful information to state and local governments that issue municipal bonds. As part of its mission to protect municipal bond issuers, the MSRB regulates municipal advisors and municipal securities dealers, operates the Electronic Municipal Market Access (EMMA®) website, and offers free educational resources in the MSRB Education Center. 

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