Glossary of Municipal Securities Terms


A person or entity (with certain exceptions) that (a) provides advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues, or (b) solicits a municipal entity, for compensation, on behalf of an unaffiliated municipal securities dealer, municipal advisor, or investment adviser to engage such party in connection with municipal financial products, the issuance of municipal securities, or investment advisory services. A municipal advisor may include, without limitation, financial advisors, guaranteed investment contract brokers, third-party marketers, placement agents, solicitors, finders and swap advisors, to the extent that such persons otherwise meet the requirements of the municipal advisor definition. See: FINANCIAL ADVISOR; PRICING ADVISOR; SWAP ADVISOR.

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