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Contact: Bruce Hall, Director, Communications


Washington, D.C. – The Municipal Securities Rulemaking Board (MSRB), the self-regulatory organization (SRO) established by Congress to safeguard the $4 trillion municipal securities market, is soliciting applications for three positions on its Board of Directors for the 2025 fiscal year. Selected candidates will be elected to four-year terms beginning October 1, 2024, where they will have the opportunity to oversee the advancement of the organization’s Strategic Plan.

“Ensuring the MSRB Board is a diverse and inclusive decision-making body that reflects the wide variety of perspectives in the municipal market is essential to our ability to advance initiatives that support a fair and efficient market,” said Meredith Hathorn, MSRB Board Chair. “We are particularly interested in applicants with compliance experience and an understanding of the role of technology in the municipal securities market to help provide oversight of the MSRB’s market transparency and regulatory initiatives,” added Jennie Huang Bennett, MSRB Board member and Chair of the Board’s Nominating Committee, which leads the process of identifying new Board members. “That said, we encourage all individuals with municipal securities experience from all regions of the United States to apply for membership on the Board.”

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 FY 2022-2025 strategic goals, with a focus on modernizing the MSRB rule book, enhancing municipal market transparency through technology and data, and upholding the public trust through fiscal transparency as well as 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, which includes 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 dealers and municipal advisors. During the current nominating process, the Board will elect two public representatives and one regulated representative to join the Board on October 1, 2024. All applicants must be knowledgeable of matters related to the municipal securities market.

Application Details

Applications are made through the MSRB Board of Directors Application Portal and will be accepted from January 2, 2024 through February 9, 2024. At least one letter of recommendation must be submitted with the application. Additional details on the Board application process, including a copy of the application form for preview, information about Board service requirements and FAQs are available on the MSRB's website. 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.