Back to top

Contact:     Leah Szarek, Chief External Relations Officer


Washington, D.C. – The Municipal Securities Rulemaking Board (MSRB), the self-regulatory organization established by Congress to safeguard the $4 trillion municipal securities market, will solicit applications for four positions on its Board of Directors for the 2023 fiscal year. Selected candidates will be elected to four-year terms beginning October 1, 2022, where they will have the opportunity to oversee the advancement of the organization’s new Strategic Plan to deploy the tools of regulation, technology and data in impactful ways that strengthen the municipal market and serve the public interest.

“Upholding the public’s trust in the integrity of the municipal market requires that our governing Board represent the broad universe of market participants and stakeholders,” said Meredith Hathorn, MSRB Vice Chair and Chair of the Board’s Nominating Committee, which leads the process of identifying new Board members. “In addition to representing the wide variety of backgrounds and perspectives that contribute to the field of public finance, we would like the Board to reflect the diversity of the communities we serve, and we encourage all qualified individuals to apply.”

The Board is charged with setting regulatory policy, authorizing rulemaking, enhancing market transparency systems and overseeing operations for the organization. The Board is currently overseeing the execution of the MSRB’s long-term strategic goals of modernizing the MSRB rule book, enhancing market transparency through investments in technology, fueling innovation through data, and upholding the public trust through a commitment to social responsibility, diversity, equity and inclusion. Board members are compensated for their service.

Board Composition

The Board is composed of 15 total members. During the upcoming nominating process, the Board will elect two public and two regulated representatives to join a Board that will consist of eight members who are representatives of the public, including investors, municipal entities and other individuals not regulated by the MSRB, and seven members from firms that are regulated by the MSRB, including representatives of broker-dealers, banks and non-dealer municipal advisors.

With respect to the two public member positions, the MSRB is particularly interested in including an institutional investor. With respect to the two regulated member positions, the MSRB is looking for at least one municipal advisor that is not affiliated with a broker-dealer or bank. All applicants must be knowledgeable of matters related to the municipal securities market.

Application Details

The MSRB will accept applications beginning Monday, January 3, 2022 through Monday, February 7, 2022. Download a copy of the application form for reference. Additional details on the Board application process are available on the MSRB's website here. Questions regarding the application and selection process should be directed to Jake Lesser, General Counsel, at 202-838-1395 or


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.