MSRB Publishes 2011 Annual Report and Audited Financial Statements

Date: January 6, 2012

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published its 2011 Annual Report, which outlines accomplishments for the year and includes audited financial statements for fiscal year 2011. The report details activities aimed at achieving the MSRB’s investor and municipal entity protection mission, and for implementing the municipal market provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).

Highlights of the MSRB 2011 Annual Report include:

  • New rulemaking initiatives undertaken by the MSRB to protect state and local governments, and investors.
  • Recent enhancements to the MSRB’s Electronic Municipal Market Access (EMMA®) website that provide market transparency.
  • Municipal market data collected and disseminated by the MSRB.
  • MSRB leadership efforts to ensure the fair and efficient operation of the municipal market.
  • Outreach events conducted by the MSRB to communicate developments to market stakeholders about the Dodd-Frank Act and solicit input from market participants on MSRB rulemaking initiatives.

The 2011 Annual Report includes a financial highlights section with information on the MSRB's annual revenues and expenses along with statements of financial position. The financial highlights are supported by full audited financial statements published in the Annual Report.

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.