The Municipal Securities Rulemaking Board (MSRB) has released its fiscal year 2024 annual report, which provides an overview of the organization’s regulatory initiatives, operational performance, financial position, and the progress made in advancing the FY 2022–2025 Strategic Plan. The report highlights the MSRB’s ongoing efforts to enhance market transparency, streamline regulation, and engage stakeholders in promoting a fair and efficient municipal securities market. The annual report also includes audited annual financial statements for the fiscal year that ended September 30, 2024.
The 2024 Annual Report Initiatives
Revising market regulation will include amending the following rules:
- MSRB Rule G-14 would reduce trade reporting time to one minute
- MSRB Rule G-47 would provide new time of trade disclosure scenarios and update certain interpretive guidance
- MSRB Rule G-27 would allow dealers to conduct supervisory activities remotely
Improving market transparency through technology and data will facilitate:
- expanding EMMA's yield curves and indices with the addition of the Tradeweb AAA Municipal Curve
- advancing the development of a modernized EMMA platform with a redesigned interface and user experience scheduled to launch in 2025
The 2024 annual report addresses ways to advance public trust by implementing the following actions:
- streamlining MSRB's Education Center and professional qualifications web pages to make it easier for participants to access and understand comprehensive information on the municipal securities market and qualifications requirements
- reaffirming its commitment to establish reasonable fees that are necessary or appropriate to advance its congressional mandate. To this end, MSRB has issued an RFI to inform potential modifications to its fee structure and rate card model
- engaging with stakeholders through a series of town halls to solicit feedback on MSRB's budget and fee-setting process
For further information, please see the report on MSRB website.
Source:
MSRB Publishes 2024 Annual Report and Audited Financial Statements (msrb.org)
