MSRB NOTICE 2003-31 (AUGUST 4, 2003)


The Municipal Securities Rulemaking Board (“MSRB”) reminds dealers that the revised Form G-40, on e-mail contacts, is available on the MSRB’s website.  The MSRB made technical amendments to Form G-40, which clarify that the Primary Contact may be either a Series 53-registered municipal securities principal or a Series 51-registered municipal fund securities limited principal; that a dealer may amend its Form G-40 electronically by logging on to the MSRB’s website; and that dealers must indicate whether the form they are submitting is an original or amended Form G-40.  The amendments became operative on August 4, 2003.[1]  Revised Form G-40 is now available on the MSRB’s website at [click here to access Form G-40].

The MSRB reminds dealers that, as of April 1, 2003, every dealer is required, pursuant to Rule G-3 on professional qualifications, to have either a municipal fund securities limited principal (Series 51) or a municipal securities principal (Series 53), as appropriate, even if the dealer’s only municipal securities activities consist of transactions in municipal fund securities.  In addition, every dealer is required to have either a Series 51 or Series 53 principal as their Primary Contact pursuant to Rule G-40.[2]  

August 4, 2003

[1] For a complete description of the amendments, please refer to MSRB Notice 2003-26 (July 1, 2003).

[2] The Series 51 examination has been available since January 2, 2003, and is administered through NASD’s PROCTOR system.