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Date:

Contact: Jennifer A. Galloway, Chief Communications Officer 
            (703) 797-6600
             jgalloway@msrb.org

MSRB ANNOUNCES REGULATORY TOPICS TO BE DISCUSSED AT UPCOMING BOARD MEETING

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) will meet July 30-August 1 where it will discuss the following rulemaking topics:

Pay-to-Play Rule for Municipal Advisors
The Board will discuss publication of a notice for comment on amending MSRB Rule G-37 to address the potential for pay-to-play activities by municipal advisors.

Municipal Advisor Qualifications
The Board will discuss comments received on its draft rule proposal on the development of professional qualifications requirements for municipal advisor professionals.

Gifts Rule for Municipal Advisors
The Board will discuss draft amendments to MSRB Rule G-20 to address gifts given by municipal advisors in their professional capacity.

Matched Trades
The Board will discuss publication of a request for comment on the disclosure of price reference information for “matched trades” and alternatives, including disclosure of markups on riskless principal transactions.

Enhancements to Pre and Post-Trade Price Transparency
The Board will discuss publication of a notice for comment seeking public input on potential changes to the trade reporting requirements for transactions in municipal securities. It will also continue to discuss a possible approach to collecting and disseminating pre-trade transparency data.

This list is subject to change without notice. A summary of actions taken by the Board at the meeting will be sent to regulated entities and published on the MSRB's website following the meeting.

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.

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