Just a few weeks ago, the Municipal Securities Rulemaking Board (MSRB) announced new strategic goals that include an organizational shift to assisting regulated entities with their compliance efforts. This goal prioritizes such initiatives as issuing regulatory guidance and advisories to support compliance with MSRB rules.
The MSRB is providing this Compliance Advisory for Municipal Advisors to aid municipal advisor firms with understanding recently implemented MSRB rules and identifying potential compliance risks. The advisory addresses applicable MSRB rules implemented since the publication of the MSRB’s first compliance advisory for municipal advisors.
This updated advisory describes factors a municipal advisor firm should consider when evaluating the effectiveness of its compliance controls and the need to implement measures to mitigate its exposure to compliance risks. Proactively addressing compliance risks benefits municipal advisors, their municipal entity and obligated person clients and, ultimately, investors and public confidence in the municipal securities market.
We look forward to your participation and feedback during the webinar and on an ongoing basis to help ensure our future compliance resources are appropriately tailored and responsive to market needs. We plan to publish a compliance advisory for municipal securities dealers soon. The next annual Compliance Advisory for Municipal Advisors, as well as one for municipal securities dealers, will be published in early 2018.
For additional compliance resources, municipal advisors are encouraged to visit the MSRB’s website (www.msrb.org).