MSRB NOTICE 2009-29 (JUNE 4, 2009)


On June 1, 2009, the Municipal Securities Rulemaking Board (the “MSRB”) implemented an electronic system for free public access to primary market disclosure documents and transaction price information for the municipal securities market through the MSRB’s Electronic Municipal Market Access system (“EMMA”).[1] As of June 1, 2009, all submissions by underwriters of official statements (“OSs”) and advance refunding documents (“ARDs”) to the MSRB formerly made under Rule G-36 are being made under revised Rule G-32, on disclosures in connection with primary offerings, through the EMMA primary market disclosure service.

In conjunction with the implementation of the primary market disclosure service of EMMA, the MSRB will host webinars on June 11, 2009 and June 12, 2009 for brokers, dealers and municipal securities dealers, acting as underwriters, placement agents or remarketing agents, and their designated agents, as well as for those persons interested in obtaining the real-time primary market subscription feed. The webinars will provide an overview of the computer-to-computer submission process and subscription service for the primary market disclosure service of EMMA and review frequently asked questions. The June 11 webinar will focus on the submission process, while the June 12 webinar will focus on the subscription process. The MSRB previously published final specifications for the computer-to-computer submission interface[2] and the subscription service[3] of the permanent primary market disclosure service of EMMA.  Participants in the webinars may wish to review these final specifications before the webinars and submit any questions you may have in advance.

The June 11 webinar on business-to-business submissions of primary market documents to EMMA is a “follow-on” webinar to earlier webinars that covered primary market disclosure submissions via EMMA’s web-based interface. Content from the earlier webinars is available here.

Each of the business-to-business webinars will last approximately one hour. Pre-registration is required and must be completed via the links below. There is no charge to attend.

Business-to-Business Primary Market Submission Webinar - June 11, 2009 2:30 ET.
To register, click here.

Business-to-Business Primary Market Subscription Webinar - June 12, 2009 2:30 pm ET.
To register, click here.

After registering, you will receive a confirmation email with a link to join the webinar session at its respective time.  Please click on the link approximately ten minutes before the session start time.  You will be directed to download the GoTo Webinar manager, and will then be given a Dial in Number, Access Code, and Audio PIN.  Please make sure to enter the Audio PIN so that you may be granted speaking privileges.  All attendees will automatically be muted upon entering the session.  If you would like to ask a question, please click on the hand tool to raise your hand.  The presenter will recognize your request and un-mute you to ask a question.  Due to the large volume of attendees, we are only able to un-mute 25 attendees at a time.  Please click on the hand tool to lower your hand if your question has already been answered. 

If you have any questions about connecting to GoTo Webinar, please contact our Meeting and Event Planner, Tina Hanachi, at 703-797-6600, or call GoTo Webinar technical support at 1-800-263-6317.

Questions about the topics covered at the conference calls may be directed to the MSRB’s Market Information Department at 703-797-6668.

June 4, 2009