The Municipal Securities Rulemaking Board (MSRB) today received approval from the
Investment programs established by states to assist families in saving for future higher education expenses are considered municipal securities under federal securities laws. The MSRB regulates municipal securities dealers that act in the capacity of underwriters of 529 plans, dealers that sell interests in 529 plans and municipal advisors to these plans.
The effective date for the rule change is
By collecting this information, the MSRB will be better able to analyze and monitor the 529 plan market, and work with fellow regulators to identify risks and potential wrongful conduct in the market.
The information will not, at this time, be disseminated publicly, though the MSRB's goal is to disseminate through EMMA at a later date the information that will be of benefit to investors. Prior to any public dissemination, the MSRB will file a proposal with the
"The MSRB plans to use the additional data to gain additional expertise regarding the 529 plan market, the growth of plans and their investment options, and the differences among plans in support of our mission to protect municipal securities investors," said MSRB Executive Director
The MSRB's Electronic Municipal Market Access (EMMA(TM)) website currently displays 529 plan disclosure documents to provide investors with free, online access to information to make informed investment decisions.
TNS 30FurigayJof 140225-4647543 30FurigayJof
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Quiznos Files for Chapter 11
- U.S. to Relinquish Gov't Control Over Internet
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Koch Brothers Step up Anti-Obamacare Campaign