MSRB Issues Statement on Nomination of SEC Chair

Date: January 24, 2013

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) said today it welcomes President Obama’s nomination of Mary Jo White to lead the Securities and Exchange Commission (SEC).

“The MSRB looks forward to working closely with Ms. White to ensure the fair and efficient operation of the municipal securities market,” said MSRB Chair Jay Goldstone. “Her expertise and reputation as a strong enforcer of federal securities laws aligns well with the MSRB’s mission to protect municipal securities investors and state and local governments.”

The MSRB also said it will continue to work alongside SEC Commissioner Elisse Walter, who has been serving as interim SEC chairman and has demonstrated a commitment to promoting dialogue on the regulation of the municipal market throughout her service on the Commission. “Commissioner Walter will continue to be a leader in the ongoing effort to improve disclosure practices in the municipal securities market,” Goldstone said.

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.