MSRB Publishes 2013 Annual Report and Audited Financial Statements

Date: January 8, 2014

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published its 2013 Annual Report, which highlights the MSRB’s progress in key priority areas, including enhancing regulatory efficiency, improving financial disclosure by state and local governments, and increasing municipal market transparency. The report also includes financial highlights for the organization for the fiscal year that ended September 30, 2013, and a link to access full audited financial statements on the MSRB’s website.

The report provides updates on MSRB initiatives in 2013 including:

  • Ongoing efforts to enhance regulatory efficiency by streamlining the MSRB Rule Book
  • Development of new tools and resources to assist state and local governments in improving their financial disclosure practices
  • Recent and planned enhancements for the MSRB’s Electronic Municipal Market Access (EMMA®) website, the official repository for information on virtually all municipal bonds
  • A look ahead at plans for implementing a regulatory framework for municipal advisors
  • Financial highlights on the MSRB’s sources of funding and allocation of resources

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.