MSRB

MSRB Rules

The MSRB establishes rules that securities firms, banks and municipal advisors must follow when engaging in municipal securities transactions and advising investors and state and local governments.

Download a PDF of the MSRB's rule book (updated quarterly).

All G Rules ?

Number Name Status Regulated Entity
Rule G-1 Separately Identifiable Department or Division of a Bank - Dealer, Municipal Advisor
Rule G-2 Standards of Professional Qualification - Dealer, Municipal Advisor
Rule G-3 Professional Qualification Requirements - Dealer, Municipal Advisor
Rule G-4 Statutory Disqualifications - Dealer
Rule G-5 Disciplinary Actions by Appropriate Regulatory Agencies; Remedial Notices by Registered Securities Associations - Dealer, Municipal Advisor
Rule G-6 Fidelity Bonding Requirements - Dealer
Rule G-7 Information Concerning Associated Persons - Dealer
Rule G-8 Books and Records to be Made by Brokers, Dealers, and Municipal Securities Dealers and Municipal Advisors Dealer, Municipal Advisor
Rule G-9 Preservation of Records Dealer, Municipal Advisor
Rule G-10 Delivery of Investor Brochure - Dealer
Rule G-11 Primary Offering Practices - Dealer
Rule G-12 Uniform Practice Dealer
Rule G-13 Quotations Relating to Municipal Securities - Dealer
Rule G-14 Reports of Sales or Purchases - Dealer
Rule G-15 Confirmation, Clearance, Settlement and Other Uniform Practice Requirements with Respect to Transactions with Customers Dealer
Rule G-16 Periodic Compliance Examination - Dealer
Rule G-17 Conduct of Municipal Securities and Municipal Advisory Activities - Dealer, Municipal Advisor
Rule G-18 Best Execution - Dealer
Rule G-19 Suitability of Recommendations and Transactions - Dealer
Rule G-20 Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance - Dealer, Municipal Advisor
Rule G-21 Advertising - Dealer
Rule G-22 Control Relationships - Dealer
Rule G-23 Activities of Financial Advisors - Dealer
Rule G-24 Use of Ownership Information Obtained in Fiduciary or Agency Capacity - Dealer
Rule G-25 Improper Use of Assets - Dealer
Rule G-26 Customer Account Transfers - Dealer
Rule G-27 Supervision - Dealer
Rule G-28 Transactions with Employees and Partners of Other Municipal Securities Professionals - Dealer
Rule G-29 Availability of Board Rules - Dealer
Rule G-30 Prices and Commissions Dealer
Rule G-31 Reciprocal Dealings with Municipal Securities Investment Companies - Dealer
Rule G-32 Disclosures In Connection With Primary Offerings - Dealer
Rule G-33 Calculations Dealer
Rule G-34 CUSIP Numbers, New Issue, and Market Information Requirements - Dealer
Rule G-35 Arbitration - Dealer
Rule G-36 Reserved -
Rule G-37 Political Contributions and Prohibitions on Municipal Securities Business Dealer, Municipal Advisor
Rule G-38 Solicitation of Municipal Securities Business - Dealer
Rule G-39 Telemarketing - Dealer
Rule G-40 Reserved -
Rule G-41 Anti-Money Laundering Compliance Program - Dealer
Rule G-42 Duties of Non-Solicitor Municipal Advisors - Municipal Advisor
Rule G-43 Broker’s Brokers - Dealer
Rule G-44 Supervisory and Compliance Obligations of Municipal Advisors - Municipal Advisor
Rule G-45 Reporting of Information on Municipal Fund Securities - Dealer
Rule G-47 Time of Trade Disclosure - Dealer
Rule G-48 Transactions with Sophisticated Municipal Market Professionals - Dealer