MSRB Seeks Board of Directors Applicants

Date: January 8, 2018

Contact: Jennifer A. Galloway, Chief Communications Officer


Washington, DC – The Municipal Securities Rulemaking Board (MSRB), the self-regulatory organization that oversees the $3.8 trillion municipal securities market, is accepting applications for its governing board. The Board of Directors sets the strategic direction of the organization, makes policy and regulatory decisions, authorizes market transparency initiatives and oversees MSRB operations.

The MSRB is seeking five individuals knowledgeable about the municipal market to serve four-year terms on the board as it oversees strategic objectives that include facilitating regulatory compliance by providing guidance, clarification and education, and further evolving the MSRB’s Electronic Municipal Market Access (EMMA®) website — a vital tool used by market participants to monitor municipal security trade price and disclosure information — into a comprehensive transparency platform that meets the needs of municipal market participants and the public.

The MSRB Board consists of 11 independent members representative of the public, including investors, municipal entities and other individuals that are not regulated by the MSRB. The Board also has 10 members that represent MSRB-regulated entities, including broker dealers, bank dealers and municipal advisors. The MSRB is seeking applicants to fill two public and three regulated-entity positions. Board terms for the five new members begin October 1, 2018.

Qualified individuals from around the country representing diverse market perspectives and organizations are encouraged to apply. The MSRB is particularly interested in applicants with substantial experience in municipal securities retail sales, and trading desk and syndicate operations. The MSRB is also interested in retail and institutional investor applicants, particularly those with expertise in separately managed municipal accounts and market structure issues, and applicants with a securities law or legal background.

MSRB Rule A-3 outlines requirements for all applicants to the Board, including specific eligibility requirements to serve as a public or regulated Board member. As always, qualified candidates representing the municipal market’s gender and minority diversity are encouraged to apply.

To be considered for a position on the MSRB Board of Directors, submit an application, which is available on the MSRB Board of Directors Application Portal, no later than February 16, 2018. Questions can be directed to Mallory Bucher, Board Administrator, at 202-838-1349 or at

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.