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Regulation and Compliance

As a part of its mission to promote a fair and efficient market, the MSRB establishes rules, related guidance and supporting compliance resources for municipal securities dealers and municipal advisors.

 

Click below to view the rulemaking process, which provides many opportunities for market participants and the public to provide input.

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What’s New in This Section

- Requests for Comment
Request for Comment on Retrospective Rule Review of Rule G-12(c) on Inter-Dealer Confirmations and…
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- Notice
SEC Approves Amended MSRB Rule G-3 Creating an Exemption for Municipal Advisor Representatives from…
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- SEC Filing
Proposed Rule Change to Amend MSRB Rule G-3 to Create an Exemption for Municipal Advisor…
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- Compliance Resource
FAQs on Use of Municipal Advisory Client Lists and Case Studies
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- Compliance Resource
Application of the Content Standards to Advertisements by Municipal Advisors under MSRB Rule G-40
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- Compliance Resource
Assessing Supervision of Municipal Advisor Advertising Regulations
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- Interpretive Guidance
FAQs regarding the Use of Social Media under MSRB Rule G-21, on Advertising by Brokers, Dealers or…
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- Notice
MSRB Adopts Amendments to Rules G-12 and G-15, Shortening Regular-Way Settlement for Municipal…
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- Notice
SEC Approves Amended MSRB Rule G-40 on Advertising by Municipal Advisors, Related Amendments to…
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- Compliance Resource
Common Compliance Questions & News Library
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- SEC Filing
Proposed Rule Change to Amend MSRB Rule G-27 to Further Extend the Current Regulatory Relief for…
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- Notice
MSRB Provides Additional Regulatory Relief by Further Extending the Temporary Timeframe for Remote…
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- Notice
SEC Approves New MSRB Rule G-46 on Duties of Solicitor Municipal Advisors and Related Amendments to…
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- SEC Filing
Proposed Rule Change to Amend MSRB Rules G-12 and G-15 to Define Regular-Way Settlement for…
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- Compliance Resource
Compliance Tip of the Week Archive
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- Requests for Comment
Request for Comment Regarding a Retrospective Review of the MSRB’s Time of Trade Disclosure Rule…
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- SEC Filing
Proposed Rule Change to Create New MSRB Rule G-46, on Duties of Solicitor Municipal Advisors, and…
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- SEC Filing
Proposed Rule Change Consisting of Amendments to MSRB Rule G-40, on Advertising by Municipal…
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- Notice
Designation Information Regarding Mandatory Participation in Business Continuity and Disaster…
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- Compliance Resource
Preparing to Submit MSRB Form A-12
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- Notice
MSRB Amends Rule A-12, on Registration, and Provides Accompanying Form A-12 Changes
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- SEC Filing
Proposed Rule Change to Amend MSRB Rule A-12, on Registration, and Accompanying Form A-12 Changes
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- Requests for Comment
Request for Comment on Draft Amendments to Create an Exemption for Municipal Advisor…
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- SEC Filing
Proposed Rule Change to Amend MSRB Rule G-27, on Supervision, to Further Extend the Current…
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- SEC Filing
Proposed Rule Change to Amend Rule G-3, on Professional Qualification Requirements, to Delete…
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See all Regulatory Documents

Rules & Interpretive Guidance

The MSRB establishes rules to regulate the activities of broker-dealers and banks that buy, sell and underwrite municipal securities, and municipal advisors that provide advice to state and local governments.

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Compliance Resources

The MSRB supports regulatory compliance by providing checklists, sample templates and other educational material about MSRB rules.

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Submitting Data & Disclosures

Submit Disclosures & Data

Learn about submitting information to the MSRB's market transparency systems.

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EMMA

Visit the free EMMA website to access data and documents submitted to the MSRB.

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MSRB Gateway

Learn about MSRB Gateway, the secure access point for all market systems operated by the MSRB.

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Registration

Dealers and municipal advisors must register with the MSRB before engaging in municipal securities transactions and municipal advisory activities.

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Search for Registered Firms and Qualified Municipal Advisor Professionals

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Professional Qualification

Dealer Qualifications & Exams

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Municipal Advisor Qualifications & Exams

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Continuing Education

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Bill Payment

 

View MSRB bill payment options, including the online payment portal.

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Fees and Assessments

Municipal Advisor Fees

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Municipal Securities Dealer
Fees and Assesments

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Reference Materials

Download a PDF of the MSRB's Rule Book (updated annually)

The MSRB Rulemaking Process

Rulebook Modernization

Policy on the Use of Economic Analysis in MSRB Rulemaking

Requesting Interpretive Guidance from the MSRB

Milestones in Municipal Market Regulation

Regulatory
Archive

View previous editions of the MSRB’s Rule Book

Access archived interpretive guidance

Read historical MSRB Reports (1981-2001)

Access archived regulatory notices (1997-1999)

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