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Rules with Recent

Expanded Compact
Number Name Status Rule Category Regulated Entity
Rule A-1 Rules of the Board
Rule A-2 Powers of the Board
Rule A-3 Board Membership: Composition, Elections, Removal, Compensation Dealers, Municipal Advisors, Bank Dealers
Rule A-4 Meetings of the Board
Rule A-5 Officers and Employees of the Board
Rule A-6 Committees of the Board
Rule A-7 Assessments Dealers, Municipal Advisors, Bank Dealers
Rule A-8 Rulemaking Procedures Dealers
Rule A-9 Fiscal Year
Rule A-10 Independent Audit
Rule A-11 Assessments for Municipal Advisor Professionals
Municipal Advisors
Rule A-12 Registration
Dealers, Municipal Advisors
Rule A-13 Underwriting and Transaction Assessments for Brokers, Dealers and Municipal Securities Dealers
Dealers, Bank Dealers, Municipal Fund Securities
Rule A-14 Rule A-14-Reserved
Rule A-15 Rule A-15-Reserved
Rule A-16 Examination Fees Dealers, Municipal Advisors, Bank Dealers
Rule A-17 Confidentiality of Examination Reports
Rule A-18 Mandatory Participation in Business Continuity and Disaster Recovery Testing
Dealers, Municipal Advisors, Bank Dealers
Rule D-1 General
Rule D-2 "Act"
Rule D-3 "Commission"
Rule D-4 "Board"
Rule D-5 "Member"
Rule D-6 "Whole Board"
Rule D-7 "Proposed Rules and Rules of the Board"
Rule A-1
Last Updated: No amendment history
Rules of the Board
Status:
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Rule A-2
Last Updated: No amendment history
Powers of the Board
Status:
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Rule A-3
Last Updated: No amendment history
Board Membership: Composition, Elections, Removal, Compensation
Rule for:

Dealers, Municipal Advisors, Bank Dealers

Status:
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Rule A-4
Last Updated: No amendment history
Meetings of the Board
Status:
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Rule A-5
Last Updated: No amendment history
Officers and Employees of the Board
Status:
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Rule A-6
Last Updated: No amendment history
Committees of the Board
Status:
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Rule A-7
Last Updated: No amendment history
Assessments
Rule for:

Dealers, Municipal Advisors, Bank Dealers

Status:
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Rule A-8
Last Updated: No amendment history
Rulemaking Procedures
Rule for:

Dealers

Status:
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Rule A-9
Last Updated: No amendment history
Fiscal Year
Status:
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Rule A-10
Last Updated: No amendment history
Independent Audit
Status:
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Rule A-11
Last Updated: 01/01/2026
Assessments for Municipal Advisor Professionals
Rule for:

Municipal Advisors

Status:
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SEC Filing (09/30/2025)
Proposed Rule Change to Amend MSRB Rules A-11 and A-13 Pursuant to a Multi-Year Rate Card and to Make Related Technical Amendments
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SEC Filing (11/30/2023)
Proposed Rule Change to Establish the 2024 Rate Card Fees for Dealers and Municipal Advisors Pursuant to MSRB Rules A-11 and A-13 (WITHDRAWN) 
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Notice (12/22/2025)
SEC Approves Amendments to MSRB Rules A-11 and A-13 Establishing New Multi-Year Rate Card Fees for Dealers and Municipal Advisors
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Notice (03/21/2024)
MSRB Makes Technical Amendment to Rule A-11 on Municipal Advisor Fees
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Notice (02/16/2024)
Existing Dealer and Municipal Advisor Fees Maintained Upon Withdrawal of 2024 Annual Rate Card
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Notice (01/30/2024)
Current Dealer and Municipal Advisor Fees Upon SEC Suspension of 2024 Annual Rate Card Fees
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Rule A-12
Last Updated: 08/09/2022
Registration
Rule for:

Dealers, Municipal Advisors

Status:
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Compliance Resource (11/19/2025)
Steps for Registering as a Municipal Advisor
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Rule A-13
Last Updated: 01/01/2026
Underwriting and Transaction Assessments for Brokers, Dealers and Municipal Securities Dealers
Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
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SEC Filing (09/30/2025)
Proposed Rule Change to Amend MSRB Rules A-11 and A-13 Pursuant to a Multi-Year Rate Card and to Make Related Technical Amendments
View SEC Filing
SEC Filing (11/30/2023)
Proposed Rule Change to Establish the 2024 Rate Card Fees for Dealers and Municipal Advisors Pursuant to MSRB Rules A-11 and A-13 (WITHDRAWN) 
View SEC Filing
Notice (12/22/2025)
SEC Approves Amendments to MSRB Rules A-11 and A-13 Establishing New Multi-Year Rate Card Fees for Dealers and Municipal Advisors
View Notice
Notice (02/16/2024)
Existing Dealer and Municipal Advisor Fees Maintained Upon Withdrawal of 2024 Annual Rate Card
View Notice
Notice (01/30/2024)
Current Dealer and Municipal Advisor Fees Upon SEC Suspension of 2024 Annual Rate Card Fees
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Rule A-14
Last Updated: No amendment history
Rule A-14-Reserved
Status:
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Rule A-15
Last Updated: No amendment history
Rule A-15-Reserved
Status:
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Rule A-16
Last Updated: No amendment history
Examination Fees
Rule for:

Dealers, Municipal Advisors, Bank Dealers

Status:
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Rule A-17
Last Updated: No amendment history
Confidentiality of Examination Reports
Status:
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Rule A-18
Last Updated: No amendment history
Mandatory Participation in Business Continuity and Disaster Recovery Testing
Rule for:

Dealers, Municipal Advisors, Bank Dealers

Status:
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Notice (01/16/2026)
Designation Information Regarding Mandatory Participation in Business Continuity and Disaster Testing
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Notice (01/17/2025)
Designation Information Regarding Mandatory Participation in Business Continuity and Disaster Recovery Testing
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Rule D-1
Last Updated: No amendment history
General
Status:
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Rule D-2
Last Updated: No amendment history
"Act"
Status:
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Rule D-3
Last Updated: No amendment history
"Commission"
Status:
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Rule D-4
Last Updated: No amendment history
"Board"
Status:
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Rule D-5
Last Updated: No amendment history
"Member"
Status:
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Rule D-6
Last Updated: No amendment history
"Whole Board"
Status:
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Rule D-7
Last Updated: No amendment history
"Proposed Rules and Rules of the Board"
Status:
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