SIE practice questionhardMSRB Rules—Municipal Securities
A municipal securities firm violates MSRB rules. Which agency enforces disciplinary actions?
- ASEC
- BMSRB
- CFINRA✓ Correct answer
- DFederal Reserve
Explanation
Why C — FINRA
The MSRB writes rules, but FINRA and other agencies enforce them for broker-dealers. The MSRB does not enforce its own rules. The SEC oversees but does not directly discipline broker-dealers for MSRB violations. The Fed is not involved.
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