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The MSRB announced that it will establish an investor advisory group to provide the MSRB's Board of Directors with additional expertise on municipal market practices, transparency and investor protection issues. Earlier, the MSRB Board requested comments on a proposal to modify the application of the standard of independence for the one public member of the board who was designated to represent institutional or retail investors in municipal securities. The goal of the proposal was to allow the MSRB to distinguish between an investor representative with significant knowledge of the municipal

SIFMA addressed several troubling concerns raised by the rule changes proposed in the MSRB's Notice 2015-13 (MSRB Adjusts Fees to Align Revenues with Operational and Capital Expenses). In a comment letter to the SEC, SIFMA argued that making the Technology Fee permanent, proposed in MSRB Rule A-13 , contradicts the MSRB's characterization of the Fee in 2010. The Technology Fee was initially designed solely to raise a capital reserve, a technology renewal fund, to finance needed technology investments and was not intended to be a permanent source of revenue to fund both capital and operating

Patrick Sweeney, former Senior Vice President and Manager of the Municipal Securities Department at Fidelity Capital Markets, joined MSRB’s 21-member Board of Directors.

The MSRB published the organization's 2015 Annual Report. The Report highlighted MSRB's ongoing efforts on investor protection, improved disclosure and new regulatory standards for municipal advisors.