Robert Fippinger returns to the MSRB as Michael Post departs
The Municipal Securities Rulemaking Board is welcoming Robert Fippinger back into the fold to aid in its transition, following the departure of General Counsel Michael Post, who will leave for the private sector after six years at the MSRB.
The MSRB announced Monday that Post will be a “senior advisor” through the end of the month, when the board’s fiscal year ends. Post’s tenure comes to an end as the board is also saying goodbye to its longtime leadership in President and CEO Lynnette Kelly and Chief Regulatory Officer Lanny Schwartz.
An MSRB spokesperson said the regulator intends to find a new general counsel, but in the meantime has turned to Fippinger's familiar guidance to bridge that gap.
Fippinger was previously the MSRB’s chief legal officer from 2015-2017, in addition to being a member of the MSRB’s Board of Directors. Prior to that he worked as a public finance attorney at Orrick, Herrington & Sutcliffe, and has been involved in muni finance and regulation for nearly 50 years. His “The Securities Law of Public Finance,” first published some 30 years ago, is still considered by many to be required reading.
The MSRB did not disclose Post’s specific plans after September ends, but noted his key role through a time of significant change for municipal regulation following the 2010 Dodd-Frank Act, which kicked off seven years of near-continuous rulemaking aimed at municipal advisors.
Post, prior to joining the MSRB, was at the SEC for about 10 years. He was counsel to former SEC chairs Christopher Cox and Mary Schapiro, advising on legal and policy matters arising mostly out of the divisions of trading and markets and enforcement as well as the Office of Municipal Securities. Before joining the SEC, Post was an associate at Sidley, Austin, Brown & Wood LLP.
The MSRB also announced that Chief Compliance Officer Gail Marshall and Executive Vice President and Chief Operating Officer Mark Kim will handle the day-to-day regulatory duties until the board finds Schwartz’s successor.