The Municipal Securities Rulemaking Board (MSRB) reminds brokers, dealers and municipal securities dealers that amendments to MSRB Rule A-13, reducing the underwriting fee, become operative January 1, 2016. The underwriting fee is decreasing from .003% ($.03) to .00275% ($.0275) per $1,000 of the par value. The reduction in the underwriting fee followed an extensive holistic review of MSRB fees by its Board of Directors.