Budget, amended rate card filing on MSRB quarterly meeting agenda

The board of directors of the Municipal Securities Rulemaking Board will vote on its proposed fiscal year 2026 budget at next week's final quarterly meeting of FY 2025, the MSRB announced Thursday.

The board will also vote on the filing of an amended rate card with the Securities and Exchange Commission for calendar years 2026 through 2029, the MSRB said in a release. The MSRB's rate card lists fees the MSRB assesses on dealers and municipal advisors.

Also during the July 23 and 24 meeting, the board will hold FY 2026 officer elections for MSRB board chair and vice chair and elect four new board members.

Regulatory topics will also be discussed during the meeting, the release said, including consideration of whether to publish a request for comment on potentialamendments to MSRB Rule G-27 to provide more flexibility in connection with dealer supervision requirements.

The board will also consider publishing a request for comment on potential amendments to replace the term "financial advisor" in MSRB rules with the term "municipal advisor," according to the release.

The board will also discuss industry efforts in connection with communications to facilitate removal of open contractual commitment charges for syndicate members, the release said.

Also during the meeting, the board will address initiatives designed to facilitate an effective market, including the modernization of the Electronic Municipal Market Access (EMMA) website and related market transparency systems, the release said.

The board meeting will also include discussion of recent municipal market activity and current MSRB research, according to the release.