WASHINGTON - The Municipal Securities Rulemaking Board is accepting applications from individuals knowledgeable about the muni market who want to join its board of directors. The application, which is available on the MSRB's website, is due no later than Feb. 20, the board announced Monday. The MSRB will host an educational webinar for potential applicants on Jan. 13, to review requirements and duties of board members, and to answer questions about board service, the MSRB said in a statement.
The 21-member board is consists of 11 members representing the public and 10 representing banks, broker-dealers and other regulated entities.
"Qualified individuals from around the country representing diverse organizations and market perspectives should consider applying," the MSRB said in a press release. "Applicants with strong knowledge of the pricing and trading of municipal securities, including those with institutional 'buy-side' experience, are encouraged to apply. The MSRB is particularly interested in investor applicants who are not affiliated with an MSRB-regulated entity."
Applicants will be nominated by an 11-member committee made up of six public and five regulated entity board members in accordance with MSRB Rule A-3, which governs membership on the board. The committee's selections for membership will then be submitted for the full board's approval. The MSRB will announce the new board members prior to Oct. 1, when the new members are to take their seats.
The board also typically publishes the full list of applicants on its website.
The MSRB is in the midst of major efforts to complete municipal advisor rulemaking and improve secondary market pricing transparency. The board's rules are binding on registered muni dealers and municipal advisors, and must be approved by the Securities and Exchange Commission.
