MSRB Supports SEC Chair Nominee Mary Schapiro

Date: December 18, 2008

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

ThE municipal securities rulemaking board supports
President-Elect obama's Nominee to lead
the securities and exchange commission      

Alexandria, VA – "We are thrilled that President-elect Obama has nominated Mary Schapiro to lead the SEC," said Lynnette Hotchkiss, executive director of the MSRB. "Her professional experience as a regulator is of the highest caliber and her focus on investor protection is unparalleled.  The MSRB has a long history of working with Mary during her time at FINRA and earlier as an SEC Commissioner, and we look forward to continued collaboration in her new role.” 

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.