Rule Summary: Prohibits dealers and municipal advisors from giving gifts or providing services in excess of $100 to another person in relation to the municipal securities activities of such person’s employer and limits the giving and acceptance of non-cash compensation by dealers, subject to exceptions.

Rule Summary: Prohibits discretionary account transactions and effecting purchase and sale transactions of municipal securities by dealers, where the dealer has a control relationship with respect to the security, absent disclosure to the customer of such relationship.