In an Annual Report, the MSRB outlined significant regulatory and strategic initiatives undertaken in 2019.
In the Report, the MSRB highlighted that it:
- formalized its retrospective rule review process;
- implemented a pilot examination for municipal advisor principals;
- provided compliance resources on MSRB Rule G-40 ("Advertising by Municipal Advisors");
- enhanced Electronic Municipal Market Access ("EMMA") search functionality and user experience for issuers;
- expanded access to municipal market yield curves and indices from third-party providers on the EMMA website;
- studied the feasibility of migrating MSRB market transparency systems to the cloud;
- developed over 20 interactive courses on how to "apply MSRB rules to real-world municipal market scenarios";
- launched a podcast discussing municipal securities regulation, market data, and emerging market topics; and
helped market participants understand and prepare for new disclosure requirements under SEA Rule 15c2-12 ("Municipal securities disclosure") through webinars, educational resources, and other publications.