(Volume 16, Number 2) JUNE 1996

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Notice of Clarification The Board has deleted one of the Questions and Answers previously published on rule G-37.


In the January 1996 issue of MSRB Reports, the Board published a question-and-answer (Q&A)notice concerning rule G-37 on political contributions and prohibitions on municipal securities business.[1] Q&A number 3 contained in that notice discussed the applicability of rule G-37 when a person, who is not associated with a dealer, sends a contribution to an issuer official, along with a writing which states that all or a portion of the contribution is being made on behalf of another person, who is a municipal finance professional. At a meeting held after the publication of the notice, the Board determined to delete this particular Q&A (as well as language in the notice referencing this situation).[2] Accordingly, please make a notation in your January issue of MSRB Reports to reflect the deletion of Q&A number 3.

March 6, 1996


[1] Vol. 16, No. 1 (January 1996) at 31.

[2] The SEC approved the remainder of the Q&A notice in Securities Exchange Act Release No.36857 (February 16, 1996). Notice of such approval, as well as the Board's decision to delete the Q&A, was published in a March 6, 1996 press release.


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