MSRB to Begin Accepting Municipal Asset-backed Securities Disclosures on EMMA

Date: January 6, 2015

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


Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today announced that its Electronic Municipal Market Access (EMMA®) service would begin collecting and disseminating disclosures related to municipal asset-backed securities required under the Securities and Exchange Commission’s (SEC) Rule 15Ga-1 on January 9, 2015. Read the regulatory notice

The changes facilitate a requirement adopted by the SEC that seeks to benefit investors by making these disclosures readily available on the EMMA website, which houses disclosures and trade data for virtually all municipal securities. EMMA search functionality, email alerts generated upon the posting of a disclosure for a specific security and email reminders about recurring disclosure obligations for submitters will be updated to reflect submissions of ABS disclosures. 

Also on January 9, 2015, the MSRB will provide updated documentation for submitters of and subscribers to continuing disclosures reflecting the new category of disclosure that will be accepted by EMMA.  

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 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.