The Municipal Securities Rulemaking Board (MSRB) reminds brokers, dealers, municipal securities dealers and municipal advisors that amendments to MSRB Rule A-12 on initial and annual registration fees becomes operative October 1, 2015. Each regulated entity registering with the MSRB on or after October 1, 2015 shall pay to the Board an initial one-time fee of $1,000. Beginning October 1, 2015, each regulated entity shall pay $1,000 annually, based on the fiscal year of the Board, within 30 days of the invoice date.