January 2022 Board of Directors Meeting Discussion Items

 The Board of Directors of the Municipal Securities Rulemaking Board (MSRB) will meet virtually January 26-27, 2022, where it will discuss the following topics:

Market Regulation

The Board will consider an extension to pandemic-related relief under Rule G-27, on dealer supervision, regarding remote inspections.

In addition, the Board will meet with the Financial Industry Regulatory Authority’s (FINRA’s) CEO Robert Cook to discuss continued regulatory coordination on matters related to the municipal securities market.

Market Transparency

The Board will preview preliminary concepts for a new user interface for the free Electronic Municipal Market Access (EMMA®) website based on extensive input from users. The concepts are intended to guide long-term work to transform the EMMA website and make the market’s official online source for data and disclosures easier to navigate and more intuitive to use.

Market Structure and Data

The Board will discuss early feedback on EMMA Labs, the MSRB’s new innovation sandbox, where market stakeholders can collaborate with MSRB staff to test active prototypes, help improve their utility and accelerate the pathway to bring enhanced market transparency tools to life on the EMMA website.

The Board also will discuss a number of market structure topics.

Public Trust

As part of its oversight of the organization’s financial stewardship, the Board will receive an update on the MSRB’s reserves and recommendations from the Finance Committee related to its fee model.

The Board will discuss engagement with stakeholders on market topics such as the open request for information on Environmental, Social and Governance (ESG) practices, the current call for applicants to serve on the Board, as well as the Board’s role in advancing Diversity, Equity and Inclusion (DEI) in the municipal securities market.