MSRB Seeks Applicants for Board of Directors (Notice 2015-01) (with Lofchie Comment)

The MSRB announced that it is seeking applicants to fill seven positions on its Board of Directors. Each of the seven positions will last for a three-year term starting on October 1, 2015.

According to the MSRB, applicants should be knowledgeable about the municipal market to be able to assist in crafting policies on the regulation of financial professionals, market structure and the MSRB's EMMA Web site. Individuals who seek more information are encouraged by the MSRB to consult Rule A-3, which outlines requirements for applicants.

Subsequently, the MSRB announced a webinar on January 13, 2015, during which it will answer questions and review the requirements and duties of board members.

Applications for the positions must be submitted by February 20, 2015.

Lofchie Comment: Given the material amount of regulatory change that has taken place in the municipal market, the additional change that seems likely to occur and the fact that changes in the municipal market may well be carried over into the corporate debt markets, a person serving as a director at the MSRB will have a real opportunity to provide meaningful input regarding market structure.

See: MSRB Regulatory Notice 2015-01; Application for Board of Directors Membership Position. Click here to register for the webinar.