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MSRB Update: Winter 2022

MSRB Update: Winter 2022

Come Innovate with Us!

Message from Chief Data Officer Brian Anthony

With the launch of EMMA Labs, the MSRB’s “innovation sandbox,” all market participants now have a platform for collaboration and innovation to help further municipal market transparency. EMMA Labs is your place to test drive prototypes and provide feedback that can help accelerate the deployment of potential data analytics tools on the Electronic Municipal Market Access (EMMA®) website . EMMA Labs debuted with two Active Labs:

  • A Disclosure Search lab that provides a full-text search to unlock the information contained within the hundreds of thousands of disclosure documents submitted to EMMA
  • A Market Analysis lab that empowers users to discover and visualize market trends.

Anyone can create a free EMMA Labs account to provide feedback on prototypes as well as ideas on future Active Labs, tools and partnerships. Read our press release to learn more. Interested in a guided virtual tour? View an on-demand webinar here.

Provide your Perspectives on ESG Practices in the Muni Market

The MSRB would like to hear your perspectives on environmental, social, and governance (ESG) practices in the municipal securities market. As the adoption of sustainable or impact investing strategies and the appetite for ESG-related projects and investment products continues to grow rapidly, it is critical for the MSRB to hear from a variety of market participants about the evolving market practices related to both ESG disclosures and bond labeling. Learn more and provide your perspectives here by March 8, 2022.

Read the ESG Notice

Latest News from the Board

The MSRB met virtually January 26-27, 2022 for its quarterly Board of Directors meeting, where the Board voted to extend certain temporary pandemic regulatory relief and refine its approach to the fees that enable the self-regulatory organization (SRO) to fulfill its mission to safeguard the $4 trillion municipal securities market. The Board discussed several other ongoing initiatives to advance the four goals outlined in its long-term strategic plan.

The Board voted to propose allowing dealer firms to conduct office inspections remotely until December 31, 2022, and to seek SEC approval of a proposal to implement structural changes to the organization’s approach to managing revenue and reserve levels. The Board also previewed preliminary concepts for a new user interface for the free Electronic Municipal Market Access (EMMA®) website; discussed early feedback on EMMA Labs, the MSRB’s new innovation sandbox; and discussed efforts to gather information on ESG practices in the municipal securities market as well as advance Diversity, Equity and Inclusion (DEI) in the market, among other topics.

Read the press release.

Rules and Guidance Roundup

Visit the Rules and Guidance page of to stay up-to-date with the latest requests for comment, proposed rule changes, rule approval notices and market advisories.

Compliance Resources

Visit the online Compliance Center for resources and information to help regulated entities understand and comply with MSRB rules.

Recent Press Releases

Read the MSRB’s latest press releases on

Follow the MSRB on Social Media

Do you follow the MSRB on our social media channels? Keep up with news updates, trivia and additional engaging content through our LinkedIn and Twitter accounts.