Rule Summary: Establishes duties of dealers acting as broker’s brokers, including when conducting auctions of municipal securities known as “bid-wanteds”; requires broker’s brokers to establish policies and procedures regarding bid-wanteds and offerings; and prohibits certain wrongful conduct.

Rule Summary: Establishes the core standards of conduct for solicitor municipal advisors when engaging in solicitation activities that would require them to register with the SEC and the MSRB as municipal advisors.