Rule Summary: Requires dealers and municipal advisors to provide certain notices to customers and clients within specified timeframes.

Rule Summary: Establishes requirements relating to CUSIP numbers for dealers and, in competitive offerings, municipal advisors; requires underwriter participation in the New Issue Information Dissemination Service (NIIDS); and requires submission of certain information and documents related to auction rate securities and variable rate demand obligations to the SHORT system.

Rule Summary: Establishes the core standards of conduct and duties of municipal advisors when engaging in municipal advisory activities (as defined in this rule).