Lakshmi Kommi Joins MSRB Board of Directors

Date: February 28, 2017

Contact: Jennifer A. Galloway, Chief Communications Officer


Washington, DC – The Municipal Securities Rulemaking Board (MSRB) announced today that Lakshmi Kommi has joined the MSRB Board of Directors, filling a Board vacancy created by the resignation of Mark Kim, who will be joining the MSRB staff as Deputy Executive Director and Chief Operating Officer. Ms. Kommi is the Director of Debt Management for the City of San Diego, California and will serve as a public representative on the Board.

“We appreciate Lakshmi stepping in to serve out Mark’s term,” said MSRB Chair Colleen Woodell. “She will be able to quickly get up to speed and contribute her issuer perspective to the MSRB’s regulatory, transparency and education priorities.” 

Kommi previously served on the Board from 2013 to 2016. She has worked for the City of San Diego since 1994 and has held positions as a Supervising Economist and Deputy Director of San Diego’s Financing Services Division. She is a member of the City of San Diego’s Disclosure Practices Working Group and serves on San Diego’s Capital Infrastructure Program Review and Advisory Committee and Investments Portfolio Advisory Committee.

The MSRB Board makes policy decisions, authorizes rulemaking, enhances market transparency systems and oversees operations of the MSRB, the municipal market’s self-regulatory organization. The Board consists of 10 members that represent MSRB-regulated entities, including broker dealers, bank dealers and municipal advisors. It also has 11 independent members that are representative of the public, including investors, municipal entities and other individuals not regulated by the MSRB. 

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.