Message from the Chair
Williams & Connolly LLP
Join the Section
The Federal Bar Association - Securities Law Section is a proud sponsor of the virtual museum and archive of the history of financial regulation at www.sechistorical.org this year.
While the museum is free and accessible to everyone at all times, the Section will highlight specific material and information within the museum on securities law issues in the coming months, providing current and prospective Section members with unique content and context for use at any time.
The Municipal Securities Rulemaking Board Gallery on Municipal Securities Regulation [http://www.sechistorical.org/museum/galleries/mun/] provides a background of municipal finance from the founding of America to the 1975 “Ford to City: Drop Dead” New York City fiscal crisis; addresses the founding of The Municipal Securities Rulemaking Board; highlights the “Whoops” – Washington Public Power Supply System – and Orange County bankruptcies; examines the development of pay to play rules; and illustrates the founding of EMMA – Electronic Municipal Market Access. As the introduction to the Gallery states, “Municipal bonds are a means to an end; they promote the general welfare and improve quality of life. Municipal projects may not be profitable in business terms, but they are no less essential. To the issuers, dealers, counsel, consultants and regulators, the municipal market is something to be passionate about.”
Securities Law Section member David B.H. Martin, has noted, “For many people, this will become the first place they go to get grounded with an essential understanding of the muni market and its regulatory underpinnings.”