Regulatory topics on deck for discussion at next week's meeting of the board of directors of the Municipal Securities Rulemaking Board will include a review of public comments received via the MSRB's rate card request for information, the MSRB announced Wednesday.
In addition to discussion relating to the rate card RFI, the board will also evaluate comments received from market participants on a concept release regarding potential modernization of municipal fund securities disclosure obligations when it meets on April 23 and April 24 to hold the third quarterly meeting of fiscal year 2025, an MSRB press release said.
The MSRB issued the rate card RFI last October to solicit input regarding its rate card fee-setting framework. Responses were due Jan. 28.
Last December, the MSRB issued a concept release seeking comment on potential initiatives to modernize disclosure obligations of dealers in connection with municipal fund securities, which include investments in certain 529 savings plans, ABLE programs for qualified disability expenses and local government investment pools, also known as LGIPs. Comments were due April 11.
Another regulatory topic on the agenda for discussion will be market infrastructure rules, with discussion related to assessing MSRB rules that may be impacted by market innovations that might challenge traditional market structure and practices, the release said.
With regard to market transparency, the board will receive an update regarding the modernization of the Electronic Municipal Market Access website. The update will include feedback from the first round of beta testing by industry stakeholders regarding the value of EMMA's enhancements for investors as well as other market participants, the release said.
In addition, the board will receive an update regarding recent municipal market activity, current MSRB research and ongoing policy discussions relating to the tax exemption of municipal bonds, the release said.
