Regulatory FrameworkQuestion 367 of 398
Which self-regulatory organization has primary jurisdiction over rules governing the municipal securities market, including the conduct of municipal securities dealers?
a.FINRA
b.The Municipal Securities Rulemaking Board (MSRB)
c.The Chicago Board Options Exchange (CBOE)
d.The SEC
Explanation
The MSRB writes rules for the municipal securities market and for dealers and advisors in that market. However, the MSRB does not conduct examinations or enforcement itself; FINRA and bank regulators enforce MSRB rules for the firms they oversee.
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