MSRB Reminds Municipal Market Professionals of Los Angeles Outreach Seminar

Date: December 20, 2010

Contact: Jennifer A. Galloway, Chief Communications Officer
             (703) 797-6600


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today reminded municipal market professionals about the education and outreach event it will host for Los Angeles, CA-area municipal market professionals on January 25, 2011. The event will provide an opportunity to learn about changes in municipal market regulation, including the MSRB’s expanded mission and jurisdiction, the development of rules and professional qualifications for municipal advisors, and ongoing municipal securities dealer rulemaking.

Industry professionals—including municipal entities, investors, municipal advisors and registered broker-dealers—can attend the education sessions. These sessions will provide information about the MSRB’s expanded mission to protect municipal entities and its municipal advisor and dealer rulemaking.

Slight modifications have been made to the seminar agenda. The seminar will be held Tuesday, January 25, 2011, beginning at 1:30 p.m. PT at The Omni Los Angeles Hotel at California Plaza, 251 South Olive Street, Los Angeles, CA 90012. View the updated agenda for the Los Angeles event.

Consistent with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as of October 1, 2010, the MSRB’s mission includes the protection of state and local government entities and others whose credit stands behind municipal bonds. The MSRB also now oversees municipal advisors that provide advice to these entities on a range of municipal securities or investment-related matters and that solicit certain business from these entities on behalf of others. This oversight is in addition to the MSRB’s existing regulation of banks and securities firms that engage in municipal securities business.

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 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 overseen by the Securities and Exchange Commission and Congress.