MSRB Seeks Nominations for Board Members
The Municipal Securities Rulemaking Board (MSRB) is seeking nominations for five Board positions. These positions will serve a three-year term beginning in October 2010. Per MSRB legislative requirements, two of the five positions will be filled by individuals from the public/independent sector, while two will be filled from within the banking industry and one from a securities firm.
“The MSRB is interested generally in expanding the number of Board candidates to have the best possible pool from which to select. We are particularly interested in finding candidates that are independent of the municipal securities industry because of federal legislation that could change the Board’s composition to a majority of public members.”
While knowledge of the municipal bond market is important, the MSRB is interested in candidates who can also bring other relevant skills to the table. Individuals with expertise in areas such as finance/audit, risk management, legal/compliance, and information technology, for example, can complement the existing experiences of our current Board members, says Hotchkiss.
The MSRB, established by Congress in 1975, is a self-regulatory organization whose mission is to protect investors and the public interest by ensuring a fair and efficient municipal securities market. The MSRB regulates securities firms and banks that underwrite, trade and sell municipal securities, collects and disseminates market information, and ensures the highest standards for professional qualifications in the industry.
With the launch of Electronic Municipal Market Access (EMMA) system in 2009, the MSRB made great strides in increasing transparency in the municipal bond market. Recently, the MSRB released a Fact Sheet entitled, “Seven Questions to Ask When Investing in Municipal Bonds,” designed to help investors discuss municipal bonds with their financial professionals, and gain a better understanding of municipal securities.
Nominations for MSRB Board candidates can be made through a form on the MSRB website, via e-mail, or postal mail. Candidates may also self-nominate. The application deadline is March 15.
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