Which statement best captures the MSRB's objective regarding pricing and transparency?

• A. To restrict investor access to pricing data
• B. To minimize disclosure requirements
• C. To prioritize firm profits over fair pricing
• D. To promote fair dealing, transparency, and accurate pricing

Answer: (D)

The underlying idea is that the MSRB aims to create a municipal market where pricing is fair, clear, and trustworthy, so investors can see and understand how prices are set. This means making price information and quotes accessible to investors and ensuring dealers deal fairly and provide accurate pricing. That’s why the option describing promoting fair dealing, transparency, and accurate pricing best fits the MSRB’s objective.

The other notions—restricting investor access to pricing data, minimizing disclosure requirements, or prioritizing firm profits over fair pricing—would undermine investor protection and market integrity, which are core to the MSRB’s mission.