MSRB-Registered Municipal Advisor Firms and Associated Series 50 Representatives

The Firms tab displays municipal advisor firms registered with the MSRB as of 9/26/2016 6:22:57 PM.1 The Representatives tab displays associated persons who have passed the MSRB’s Municipal Advisor Representative Qualification Examination (Series 50).Associated persons may engage in municipal advisory activities without the Series 50 qualification until September 12, 2017. Qualification information is dependent upon data about associated persons submitted to the Securities and Exchange Commission (SEC) on SEC Form MA-I.3



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1The notation “Not an SEC Registered Municipal Advisor” indicates that the municipal advisor firm’s MSRB Form A-12 does not reflect current registration with the SEC and the municipal advisor was not listed by the SEC on its most recent list of registered municipal advisors, published here.

2The Series 50 is designed to test broad-based knowledge of the business and regulations governing municipal advisory activities. The examination is not designed to specifically test each specialized functional role or service that may be provided on behalf of a municipal advisor firm as defined in Section 15B of the Securities Exchange Act and, therefore, does not confer the degree of knowledge and expertise needed to provide a municipal entity or obligated person client with informed advice as required under MSRB Rule G-42. 

3A municipal advisor firm is obligated to maintain a current and accurate SEC Form MA-I for each associated person.