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Contact: Jennifer A. Galloway, Chief Communications Officer 


Washington, DC The Municipal Securities Rulemaking Board (MSRB) today announced the members of its 2017 Investor Advisory Group, which provides the MSRB’s Board of Directors with access to additional expertise on municipal market practices, transparency and investor protection issues. 

Members of the 2017 MSRB Investor Advisory Group are: 

  • Fred S. Cohen, SVP/Director, Municipal Bond Trading, AllianceBernstein LP
  • Jim Ladge, COO and Portfolio Manager, Appleton Partners, Inc.
  • Geoffrey L. Schechter, Investment Officer, MFS Investment Management
  • Justin Schwartz, Head of Municipal Money Markets, Vanguard Group, Inc.
  • Ben Smelser, Vice President and Senior Trader, Breckinridge Capital Advisors

“As the MSRB advances several significant investor protection proposals, the Investor Advisory Group will help ensure that the MSRB’s policies are informed by the expertise and perspectives of a diverse group of investors,” said MSRB Chair Colleen Woodell.

Among the topics the MSRB is addressing this year are primary offering practices and the potential addition of pre-trade data to the Electronic Municipal Market Access (EMMA) website. The advisory group, created in 2015, will meet periodically throughout the year, as directed by the Board.

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.