S 3935·Federal·senate
Municipal Securities Rulemaking Board Reform Act of 2026
In CommitteeFiled Feb 26, 2026
Sponsor: Sen. Kennedy, John [R-LA] (R)
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 26, 2026
Summary
The Municipal Securities Rulemaking Board Reform Act of 2026 rewrites the makeup of the MSRB, creating a 15‑member board with a majority of industry‑linked members and a balanced set of public representatives. It also sets out how members are appointed, their terms, and gives the SEC power to adjust the board size while keeping it an odd number. The changes aim to improve oversight of municipal bond markets.
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