The Municipal Securities Rulemaking Board (MSRB) reminds municipal advisors that amendments to MSRB Rule G-44 regarding supervisory and compliance obligations of municipal advisors, and related amendments to MSRB Rule G-8, on books and records, and MSRB Rule G-9, on preservation of records become effective on April 23, 2015. Municipal advisors are required to establish, implement and maintain a system to supervise their municipal advisory activities and those of their associated persons that is reasonably designed to achieve compliance with all applicable securities laws and regulations.