MSRB Hires Securities Industry Attorney

Date: December 1, 2008

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


Alexandria, VA - The Municipal Securities Rulemaking Board, a self-regulatory organization with rulemaking and market information responsibilities, today announced that Lawrence Sandor has joined MSRB's legal department as Associate General Counsel.

Mr. Sandor was previously Chief Compliance Officer of Wachovia Securities LLC in Richmond, VA. He brings to the MSRB deep knowledge and experience with internal broker-dealer supervisory and compliance processes.  

"We couldn't be happier about the addition of Larry to our legal team," said MSRB Executive Director Lynnette Hotchkiss.  "His professional background is a terrific fit with the MSRB's regulatory responsibilities and he will add a new perspective to our efforts." Mr. Sandor will report to General Counsel Ernesto Lanza.

Mr. Sandor earlier served in various compliance-related roles at Wachovia Securities, and has also worked in private practice advising financial services firms on securities regulation.

Mr. Sandor received his Bachelor's of science degree from Boston University and his law degree from Emory University School of Law.  His securities licenses include Series 14, 24, and 31.

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.