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Contact:     Leah Szarek, Chief External Relations Officer


Washington, DC – The Municipal Securities Rulemaking Board (MSRB) today announced the members of its continuing advisory groups. In all, 29 market professionals will share their municipal market and regulatory perspectives while serving on the MSRB’s Compliance and Municipal Fund Securities Advisory Groups.


"We are delighted that such a diverse class of individuals serving in a broad array of roles have volunteered their time and expertise to help inform the MSRB’s important work,” said Donna Simonetti, Board member and Chair of the FY 2022 Compliance Advisory Group (CAG). “We are particularly pleased to welcome to CAG a diverse group of professionals with expertise on the application of the MSRB’s rules related to the processing and reporting of municipal securities transactions, clearance and settlement of trades, and new issue processes including market data.”


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For the fifth consecutive year, CAG will inform the MSRB’s compliance initiatives by providing feedback on compliance resources and tools to enhance dealers’ and municipal advisors’ understanding of MSRB rules and areas where compliance clarification and assistance may be warranted. 

For the fourth consecutive year, the Municipal Fund Securities Advisory Group (MFSAG) will provide input on industry practices, guidance and investor education related to 529 savings plans and Achieving a Better Life Experience Act of 2014 (ABLE) programs. “We would like to thank our MFSAG members for their ongoing work of informing the MSRB on legislation and trends within the 529 plan space to help the MSRB develop compliance resources and educational materials related to municipal fund securities,” said Thalia Meehan, Board member and Chair of the FY 2022 MFSAG.

Both advisory groups will continue to be a resource to the MSRB in fostering a dialog and working collaboratively with market participants.

Advisory group members for the current fiscal year are listed below.

Compliance Advisory Group

  • 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

  • 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

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. The MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. The MSRB is a self-regulatory organization governed by a board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.