Mission Statement

The mission of the Municipal Securities Rulemaking Board (MSRB) is to protect investors, state and local government issuers, other municipal entities and the public interest by promoting a fair and efficient municipal market through:

  1. The establishment of rules for dealers and municipal advisors,
  2. The collection and dissemination of market information, and
  3. Market leadership, outreach and education.

Through the MSRB’s leadership, the municipal market operates fairly, transparently, efficiently and with integrity; investors and municipal entities are protected; there is a high degree of confidence in the municipal market; and the municipal market is a standard for other securities markets to emulate. The MSRB is a leading expert in and an objective resource for information about the municipal market.

About the MSRB
The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a Congressionally-chartered, self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is subject to oversight by the Securities and Exchange Commission.

The MSRB maintains distinct programs aimed at achieving its mission and vision in an efficient and effective manner: