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Notice 2026-03 - Request for Comment
Publication date: | Comment due:
Request for Comment on Draft Amendments to MSRB Rules to Retire Financial Advisor Terminology Pursuant to the MSRB’s Municipal Advisor Retrospective Rule Review (as revised on May 6, 2026)
Information for:

Bank Dealers, Dealers, Issuers, Municipal Advisors

Rule Number:

Rule G-1, Rule G-3, Rule G-20, Rule G-23, Rule G-37

Submit Comments
  1. American Securities Association: Letter from Jessica R. Giroux, Chief Legal Officer, dated July 20, 2026
  2. First Hawaiian Bank: Email from Ryan Ushijima dated July 10, 2026
  3. National Association of Municipal Advisors: Letter from Susan Gaffney, Executive Director, dated July 20, 2026
  4. PFM Financial Advisors, LLC: Letter from Cheryl Maddox, Chief Legal and Compliance Officer, dated July 20, 2026
  5. Securities Industry and Financial Markets Association: Letter from Leslie M. Norwood, Managing Director and Associate General Counsel, Head of Municipal Securities, dated July 20, 2026
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Compliance Resource
Publication date:
Steps for Registering as a Municipal Advisor
Information for:

Dealers, Municipal Advisors

Rule Number:

Rule G-2, Rule G-3, Rule A-12

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Compliance Resource
Publication date:
FAQs on the Series 50 Examination
Information for:

Municipal Advisors

Rule Number:

Rule G-2, Rule G-3

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Compliance Resource
Publication date:
FAQs on the Series 54 Examination 
Information for:

Municipal Advisors

Rule Number:

Rule G-2, Rule G-3

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Compliance Resource
Publication date:
Common Compliance Questions & News Library
Information for:

Bank Dealers, Dealers, Municipal Advisors

Rule Number:

Rule G-3, Rule G-12, Rule G-14, Rule G-17, Rule G-18, Rule G-21, Rule G-30, Rule G-37, Rule G-40, Rule G-42, Rule G-44, Rule A-12

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Notice 2022-13 - Request for Comment
Publication date: | Comment due:
Request for Comment on Draft Amendments to Create an Exemption for Municipal Advisor Representatives from Requalification by Examination
Information for:

Issuers, Municipal Advisors

Rule Number:

Rule G-3

All Comments to Notice 2022-13

  1. National Association of Municipal Advisors: Letter from Susan Gaffney, Executive Director, dated January 30, 2023
  2. Securities Industry and Financial Markets Association: Letter from Leslie M. Norwood, Managing Director and Associate General Counsel, dated January 30, 2023
  3. Wulff, Hansen & Co.: Letter from Chris Charles, President, dated December 29, 2022
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Notice 2022-12 - Informational Notice
Publication date:
MSRB Extends Regulatory Relief for Remote Inspections and Files Amendments to Remove Expired Professional Qualifications Relief
Information for:

Bank Dealers, Dealers, Municipal Advisors

Rule Number:

Rule G-3, Rule G-27

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Notice 2022-09 - Informational Notice
Publication date:
MSRB Amends Rule G-3 on Dealer Continuing Education Program Requirements
Information for:

Dealers

Rule Number:

Rule G-3

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Notice 2022-05 - Informational Notice
Publication date:
MSRB to End Regulatory Relief that Extended Certain Professional Qualification Requirements Due to COVID-19
Information for:

Bank Dealers, Dealers

Rule Number:

Rule G-3

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Notice 2021-11 - Informational Notice
Publication date:
MSRB Provides Further Extension of Time to Take the Series 54 Qualification Examination
Information for:

Municipal Advisors

Rule Number:

Rule G-3

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Notice 2021-10 - Informational Notice
Publication date:
MSRB Provides Interim Accommodation for the Municipal Advisor Principal Qualification Examination (Series 54 Exam)
Information for:

Municipal Advisors

Rule Number:

Rule G-3

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Notice 2021-02 - Informational Notice
Publication date:
MSRB to Retire Select Interpretive Guidance for Dealers and Municipal Advisors
Information for:

Bank Dealers, Dealers, Municipal Advisors

Rule Number:

Rule G-3, Rule G-8, Rule G-12, Rule G-14, Rule G-16, Rule G-17, Rule G-20, Rule G-23, Rule G-33, Rule G-37, Rule G-38

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Compliance Resource
Publication date:
Understanding the Municipal Advisor Principal Qualification Examination
Information for:

Municipal Advisors

Rule Number:

Rule G-3

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Notice 2020-18 - Informational Notice
Publication date:
MSRB Provides Additional Regulatory Relief During COVID-19 Pandemic
Information for:

Bank Dealers, Dealers, Municipal Advisors

Rule Number:

Rule G-3, Rule G-16, Rule G-27

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Notice 2020-09 - Informational Notice
Publication date:
MSRB Amends Certain Rules to Provide Regulatory Relief During COVID-19 Pandemic
Information for:

Bank Dealers, Dealers, Municipal Advisors

Rule Number:

Rule G-3, Rule G-27, Rule G-44, Rule A-11, Rule A-12

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