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


MUNICIPAL SECURITIES RULEMAKING BOARD PUBLISHES
2009 ANNUAL REVIEW AND FINANCIALS

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) today published its 2009 Annual Review  that outlines accomplishments for the year and includes audited financial statements for fiscal year 2009.  The report details activities in each of the programs aimed at achieving the MSRB’s investor protection mission.

Program highlights include:

  • The launch of continuing disclosure documents on the Electronic Municipal Market Access (EMMA) website
  • The availability of all-electronic official statements on EMMA
  • The availability on EMMA of variable rate securities interest rate data
  • The publication of extensive guidance for municipal securities dealers on required disclosures of material events to customers
  • The publication of guidance for dealers on Build America Bonds
  • The publication of the first MSRB Fact Book

Financial highlights for fiscal 2009 include:

  • Revenues of $19,627,984, a decrease of $2,522,765 over 2008.
  • Expenses of $21,281,260, an increase of $2,719,709 over 2008.
  • Unrestricted net assets of $26,386,488, a decrease of $1,653,276 over 2008.

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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