Subject: File No. SR-MSRB-2013-01
From: Robert W Doty
Affiliation: AGFS, Government Financial Strategies, Inc.

February 20, 2013

I support the Board's proposal. It is a constructive and moderate response to issues associated with underwriter contributions to bond elections. These steps are necessary in order to gather necessary information for evaluation of potential further actions responsive to circumstances suggestive of corruption and unfair dealing in gaining employment and participating in municipal securities issuance approved by voters.

Actions relating to contributions by municipal advisors also is badly needed, but first the Commission should complete the definition of "municipal advisor."