As part of the MSRB’s long-term commitment to facilitating compliance with municipal market rules, the Municipal Securities Rulemaking Board (MSRB) today published this Compliance Advisory for Brokers, Dealers and Municipal Securities Dealers. The compliance advisory serves as a reference tool for municipal securities dealers seeking to proactively address compliance risks and assess the effectiveness of their compliance programs.
The MSRB actively engages with the dealer industry throughout the year to inform the development of this annual compliance advisory. Our advisory flags important factors for dealers to consider when evaluating the adequacy of their supervisory controls. Taking appropriate steps to address compliance risks benefits municipal securities dealers, their clients and, ultimately, investors and public confidence in the municipal securities market.
This June, the MSRB published a similar compliance advisory for municipal advisors to support their efforts to comply with new and existing standards of conduct. Additional compliance resources, including interpretive guidance, educational webinars and interactive, rule-based MuniEdPro® courses, are available on the MSRB’s website.