Board Advisory Groups
In response to stakeholder feedback and the value of previous advisory groups in support of the MSRB’s work and its mission, the MSRB Board of Directors in FY2022 determined to continue two specialized Board advisory groups, consisting of 29 qualified individuals representing diverse market perspectives and organizations. The groups provide subject-matter expertise to the Board on certain municipal securities market matters. Each advisory group includes Board member liaisons who help oversee advisory group activities. A third standing Professional Qualifications Advisory Committee advises the Board on development of the MSRB’s professional qualification examinations.
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Compliance Advisory Group (Fiscal Year 2022)
The Compliance Advisory Group provides input to the Board on the development of compliance resources and tools for brokers, dealers and municipal securities dealers and municipal advisors, such as checklists, sample templates, rule summaries and other educational material to enhance their understanding of MSRB rules and to assist their efforts in developing a compliance program reasonably designed to achieve compliance with MSRB rules. Dealers and municipal advisors are key intermediaries in the municipal securities market, and the MSRB, through the Compliance Advisory Group, seeks the input and expertise of these market professionals to help identify those areas where compliance clarification and assistance is warranted and will be most impactful.
- Jeff D. Baize, Chief Executive Officer, Brookhurst Development Corporation
- Jon Bronson, Senior Vice President, Zions Public Finance, Inc.
- Nathan Crow, Director, Trading Risk Management and Trading Operations, Charles Schwab & Co., Inc.
- Kimberly Donovan, Vice President, Compliance Manager, H2C Securities, Inc.
- Tommy Frain, Deputy Compliance Officer, Siebert Williams Shank & Co., LLC
- Alyssa L. Glaser, Director, Baker Tilly Municipal Advisors, LLC
- Jervis B. Hough, Chief Compliance Officer/Chief Operating Officer, Blaylock Van, LLC
- David Leslie, Director, Municipal Banking and Markets Compliance & Operational Risk Management, Bank of America
- Cheryl Maddox, Chief Legal and Compliance Officer, PFM Financial Advisors LLC
- Mary McPike, Deputy General Counsel, Stifel Financial Corp.
- Emily Metzler, Senior Vice President/Chief Compliance Officer, MuniCap, Inc.
- David W. Moore, Senior Vice President and Chief Operating Officer, Roosevelt & Cross, Inc.
- Blake Morris, Head of Supervision, Public Finance, Hilltop Securities Inc.
- Karen Warren, Principal Operations Officer, Stern Brothers & Co.
- Mary M. Wong, Director & Co-Head, Transaction Review Group, Municipal Finance, RBC Capital Markets, LLC
Municipal Fund Securities Advisory Group (Fiscal Year 2022)
The Municipal Fund Securities Advisory Group provides input and expertise to the Board on municipal market rules, industry practices, trends, legislation and the development of educational resources regarding 529 savings plans and programs designed to implement the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014. The MSRB seeks the expertise of these market professionals, which represent a cross-section of state sponsors of 529 plans, dealers and municipal advisors.
- Kristia Adrian, Vice President, National 529 Specialist, JP Morgan
- Dante Q. Allen, Executive Director, CalABLE Act Board, Office of the California State Treasurer
- Karen Austin, Chief of Staff for the Iowa Treasurer of State
- Rachel Biar, Assistant State Treasurer, Nebraska
- Kathy Brady, Vice President and Senior Legal Counsel, T. Rowe Price Investment Services, Inc.
- Mary Anne Busse, Managing Director, Great Disclosure LLC
- Mark A. Chapleau, Member, Chapleau Law Group
- Paul Curley, CFA, Director of Savings Research, ISS Market Intelligence
- Fernando Diaz, Chief Financial Product Officer, Office of Illinois State Treasurer
- Andrea Feirstein, Managing Director, AKF Consulting Group
- Chris McGee, General Counsel, Virginia529
- Amanda Muir, Principal, Education Savings, Vanguard
- Richard J Polimeni, Director, Head of Education Savings Programs, Bank of America
- Audrey Syatt, Associate General Counsel, Ascensus
Professional Qualifications Advisory Committee
The Professional Qualifications Advisory Committee (PQAC) advises the Board on development of the MSRB’s professional qualification examinations in accordance with the Standards for Educational and Psychological Testing. The Committee is composed of two subcommittees, each with 10-15 municipal market practitioners representing a cross-section of the industry and possessing specific industry expertise. The subcommittees meet throughout the year to review municipal market content that should be included within industry examinations and to ensure the material is consistent with the regulatory requirements and job responsibilities of municipal market professionals. The subcommittees are also responsible for drafting and revising examination questions.