New MSRB Video Addresses Roles in a Municipal Bond Issuance

Date: November 18, 2013

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

NEW MSRB VIDEO ADDRESSES ROLES IN A MUNICIPAL BOND ISSUANCE

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today released a short video that explains the roles of key participants involved when a state or local government borrows money from the investing public by issuing a bond. The Issuance Process seeks to clarify for state and local government issuers the distinct roles of underwriters and municipal advisors so that they can understand the nature of their relationships with each of these entities throughout the issuance process. The video continues the MSRB’s award-winning multimedia strategy to provide municipal market education to state and local governments and investors.

“The MSRB’s video series tell the story of municipal bonds—what role they play in financing public projects, who are the participants and how the MSRB contributes to a fair and efficient market,” said MSRB Executive Director Lynnette Kelly. “We want state and local governments, investors and anyone with an interest to better understand how the municipal market works so that they can make decisions that are right for them.”

The new video is geared toward state and local governments starting the process of bringing a new municipal bond to the market. The video specifically aims to help first-time and infrequent issuers familiarize themselves with the issuance process and the different role of underwriters and municipal advisors, which are regulated by the MSRB.

As part of its education mission, the MSRB provides free online toolkits for state and local governments and investors to help them navigate the process of issuing and investing in municipal securities. All of the MSRB educational materials provide objective and independent information for municipal market participants.

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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 Congressionally-chartered, 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 subject to oversight by the Securities and Exchange Commission.