MSRB Publishes 2012 Rule Book

Date: January 18, 2012

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


Alexandria, VA The Municipal Securities Rulemaking Board (MSRB) today published the electronic version of its printed 2012 Rule Book, which describes rules for municipal securities dealers and municipal advisors effective as of January 1, 2012.

All MSRB rules are available on; however, the MSRB publishes its rules in book format to facilitate ease of use. The most current version of MSRB rules can always be found in the Rules section of the MSRB’s website.

The 2012 Rule Book contains additional content to make it easier for municipal market participants to locate and understand MSRB rules. This new content includes:

  • A table classifying MSRB General Rules into subcategories of Fair Practice, Uniform Practice, Professional Qualification and Miscellaneous
  • Rule summaries for each General Rule, located at the front of the book in the table of contents

Printed copies of the Rule Book are available for sale from 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 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.