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

MSRB’S REVISED TELEMARKETING RULE APPROVED  

Alexandria, VA – The Municipal Securities Rulemaking Board (MSRB) announced today that the Securities and Exchange Commission has approved the MSRB’s revised telemarketing rule to more closely align certain provisions with similar rules of the Federal Trade Commission (FTC). MSRB Rule G-39 prohibits dealers from engaging in deceptive and other abusive telemarketing practices.

The revisions to Rule G-39 on telemarketing are effective August 22, 2013. The MSRB is adopting provisions that, among other restrictions, prohibit dealers that engage in telemarketing from blocking their caller identification information, under certain circumstances. The revised rule also requires dealers to retain a permanent record of a person’s request not to receive further telemarketing calls. 

The Municipal Securities Rulemaking Board (MSRB) was established by Congress in 1975 with the mission to protect investors, issuers and the public interest and to promote efficiency, competition and capital formation. MSRB is a private, self-regulatory organization governed by an independent board of directors with market knowledge and expertise. MSRB does not receive federal appropriations and is funded primarily through fees paid by regulated entities. MSRB is overseen by Congress and the Securities and Exchange Commission.

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