MSRB Names Deputy Executive Director and Hires Market Professional

Date: April 11, 2011

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


Alexandria, VA - The Municipal Securities Rulemaking Board (MSRB) today announced that Ernesto A. Lanza, MSRB General Counsel, has been named Deputy Executive Director.

As Deputy Executive Director, Mr. Lanza, who will continue to serve as the MSRB’s General Counsel, will focus on major municipal market issues, including long-term trends and potential initiatives aimed at improving investor and issuer protection and increasing the efficiency and effectiveness of the municipal capital markets. In recent years, Mr. Lanza played a key role in the development and launch of the MSRB’s Electronic Municipal Market Access (EMMA) system, which has fundamentally changed disclosure and transparency in the municipal market. Mr. Lanza joined the MSRB in 1997 as Assistant General Counsel and has served as General Counsel since 2008. He received his law degree from the University of Pennsylvania and his bachelor’s degree from Harvard University.

The MSRB has also brought on staff Ritta McLaughlin, a municipal finance professional who has been working with the MSRB on its market leadership initiatives. Ms. McLaughlin, who joins the MSRB as Director of Market Leadership, will develop and lead the MSRB’s market leadership initiatives, including addressing market-related issues that promote a fair and efficient municipal market. Ms. McLaughlin has broad experience in the municipal finance market, including investment banking, debt management and debt restructuring. She previously served as associate treasurer for the District of Columbia, and earlier worked for J.P. Morgan, Bear Stearns and Fitch Ratings. Ms. McLaughlin received a bachelor’s degree from Vassar College, and a master’s degree in urban policy and management from the New School for Social Research.

“The talents of these two highly experienced individuals will help guide the MSRB in fundamental areas,” said MSRB Executive Director Lynnette Kelly Hotchkiss. “Ernie’s deep technical knowledge and broad understanding of the market, and Ritta’s market experience and extensive relationships will provide strategic leadership to stay on top of market trends, anticipate future needs and identify where the MSRB can have a positive impact.”

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.