Updated with correction
The recently expanded Municipal Securities Rulemaking Board, Alexandria, Va., is seeking candidates with public pension fund experience to serve on its 21-member board, confirmed MSRB spokeswoman Jennifer Galloway.
Ms. Galloway said in a telephone interview that the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act increased the board's mandate to include regulation of firms and individuals that solicit business from public pension funds on behalf of third parties such as hedge funds, private equity firms and investment advisers.
The Dodd-Frank Act also expanded the board to 21 members — 11 representing the public and 10 representing MSRB-regulated broker-dealers, banks and municipal advisers — from 15 members — five representing the public and 10 representing banks and securities firms.
The board is searching for members to begin serving the three-year terms, beginning Oct. 1. Applications are due by March 1 and are available on the MSRB website or by calling (703) 797-6754.