MSRB Releases Strategic Plan for Fiscal Years 2026-2030
MSRB recently released its strategic plan for fiscal years 2026 through 2030. The plan builds on MSRB’s mission, vision and values with three strategic goals of regulatory modernization, market transparency and public accountability, while articulating a long-term strategy, which will guide its priorities over the next five years. The importance of continued stakeholder engagement is underscored throughout the plan.
“MSRB’s strategic plan was shaped by the many conversations we’ve had with stakeholders from across the municipal securities market,” MSRB CEO Mark Kim said in a news release. “I cannot emphasize enough that the most important part of this strategic plan will be the ongoing engagement that will occur as we pursue these goals in the years ahead."
MSRB Amends Rule G-20 to Increase Gift Limit
In May, MSRB filed with the U.S. Securities and Exchange Commission (SEC) for immediate effectiveness a proposed rule change to MSRB Rule G-20, which would harmonize its gift rule requirements with the Financial Industry Regulatory Authority's (FINRA) amendments to its own gift rule (FINRA Rule 3220). MSRB’s rule change increases the gift and non-cash compensation dollar limit from $100 to $300 per person per year, updating the rule originally adopted in the late 1970s. In addition, the rule change addresses how gifts that are incidental to normal business dealings should be treated, revises valuation and aggregation requirements, while clarifying other exceptions to the gift limit and creating additional supervision and recordkeeping requirements.
News from MSRB’s Third Quarterly Board Meeting of FY2026
MSRB’s Board held its third quarterly meeting of fiscal year 2026 in April. The Board discussed several market regulation and transparency initiatives and met with Securities and Exchange Commission Chairman Paul S. Atkins. Specifically, the Board:
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- Discussed public comments to proposed amendments to Rule D-15 on the definition of Sophisticated Municipal Market Professional (SMMP).
- Approved issuing a request for comment to seek public comment on a potential rule change to extend electronic dissemination of primary market disclosure documents under Rule G-32 to 529 plans, ABLE programs and other municipal fund securities.
- Received updates on the status of ongoing rule reviews relating to municipal advisors, Form G-32 and market infrastructure, as well as on MSRB’s rule harmonization initiative.
- Received updates on continued work on the forthcoming modernized Electronic Municipal Market Access (EMMA), as well as recently published and upcoming research.
MSRB Briefing on Capitol Hill to Educate Congressional Staff
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| MSRB hosted a congressional briefing on Capitol Hill to educate staff on the municipal securities market and the essential role of municipal bonds in financing America’s public infrastructure. This briefing served as an opportunity to provide technical assistance to policymakers and their staff.
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Recent MSRB Research
MSRB publishes research, data and educational materials to assist market participants, policymakers and the public in developing a deeper understanding of the municipal securities market. Recent research publications include:
- Overview of the Taxable Municipal Bond Market
- Transaction Costs for Municipal Securities Odd-Lot Trades
- First Quarter 2026 Municipal Securities Market Summary
- Institutional Customer Activity and Use of ATS
- Trading Volume and Transaction Costs for Municipal Bond ETFs
- Dealer Participation and Concentration in Municipal Securities Trading
More MSRB News and Information
- Visit the MSRB.org Regulation and Compliance page to stay up to date with the latest requests for comment, proposed rule changes, rule approval notices and market advisories.
- The Compliance Resources page has information to help regulated entities understand and comply with MSRB rules.
- See more news about how MSRB is protecting investors, issuers and the public interest on the press releases page.
