Capital MarketsQuestion 324 of 398
Which organization writes rules governing the municipal securities market but has no enforcement authority of its own, relying on the SEC and FINRA to enforce them?
a.The Federal Reserve Board
b.The MSRB (Municipal Securities Rulemaking Board)
c.The FDIC
d.SIPC
Explanation
The Municipal Securities Rulemaking Board, or MSRB, writes rules for firms and individuals dealing in municipal securities but does not enforce them itself. Enforcement is carried out by the SEC and FINRA (and bank regulators for bank dealers).
Practice all 398 questions free — no signup required.
Related questions on this topic
- Which of the following is an example of an exempt security under the Securities Act of 1933?
- A company sells its securities only to residents of the single state in which it is incorporated and does business. Which exemption may apply?
- Which regulatory body is the primary self-regulatory organization (SRO) that oversees broker-dealers and their registered representatives in the United States?
- A brokerage firm becomes insolvent, and customer securities are missing from their accounts. Which organization is designed to protect these customers up to specified limits?
- Which of the following BEST describes what SIPC does NOT cover?
- Which federal agency insures deposits at member commercial banks up to specified limits?
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against FINRA Securities Industry Essentials (SIE) Exam · How we review