The MSRB has a new slate of officers for fiscal year 2011, as well as a restructured Board committee and advisory group structure.   to enable the MSRB to fulfill its expanded mandate to protect state and local governments, in addition to investors and the public interest.  As C-I reported last week, as of 10/1 - the beginning of the new fiscal year - the MSRB will be governed by a majority of independent, public members and include municipal advisor representatives who, for the first time, will be subject to regulation by the MSRB.

The timetable for implementing these changes, which are part of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act, require experienced leadership and a governance structure that can effectively and without market disruption guide the MSRB.

• MSRB Chairman.   Michael Bartolotta, Vice Chairman of First Southwest Co.;
• Vice Chairman.   John Young, II, managing director of Muni U/W and Public Finance Marketing at Samuel A. Ramirez & Co. Inc.

The MSRB’s new governance structure will provide for an audit, governance and nominating committee chaired by public members as well as four advisory councils representing investors, issuers, municipal advisors and dealers.  These councils will act as a resource to the Board and inform its rulemaking activities.   [MSRB News Rel., 9/16]