MSRB Directors to Debate Corporate and Regulatory Issues at Upcoming Board Meeting

The MSRB Board of Directors (the "Board") will address current market topics and corporate issues, and elect new members and officers, at an upcoming meeting.

The Board will examine:

• markup disclosures and prevailing market price guidance;

• bank loan disclosures, particularly those that concern public and investor access to information about the direct purchase and bank loan transactions of municipal securities issuers;

• potential amendments to MSRB recordkeeping requirements that would modernize dealers' handling of customer complaints and simplify the delivery process of the investor brochure;

• electronic communications between municipal securities dealers and their customers;

• potential amendments to CUSIP numbers and new issue and market information requirements;

• programs created under the Achieving a Better Life Experience Act of 2014;

• market transparency; and

• organizational reserves.

The meeting will be held on July 27 and July 28, 2016.