MSRB Publishes 2015 Annual Report and Audited Financial Statements

Date: January 11, 2016

Contact: Jennifer A. Galloway, Chief Communications Officer


Washington, DC – The Municipal Securities Rulemaking Board (MSRB) today published its 2015 Annual Report, which highlights the organization's progress on investor protection initiatives to enhance market structure, its ongoing efforts to improve issuer disclosure practices and the implementation of new regulatory standards for municipal advisors.

The report also includes financial highlights for the organization for the fiscal year that ended September 30, 2015 with a link to access full audited financial statements on the MSRB’s website.

Among the MSRB 2015 initiatives included in the report:

  • Enhancements to the availability of more robust pricing information for municipal securities investors
  • Advocating for better disclosure of bank loans and alternative financings by municipal securities issuers
  • Creation of the first professional qualifying examination for municipal advisors
  • Addition to the online MSRB Education Center of objective, non-commercial resources about municipal market topics 

Read the report

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.