Click to see Rules that have recent rulemaking activity or compliance resources:

Expanded Compact
Number Name Status Rule Category Regulated Entity
Rule G-20 Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance Dealers, Municipal Advisors, Bank Dealers
Rule G-47 Time of Trade Disclosure
Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-20
Last Updated: 06/25/2020
Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance

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 for:

Dealers, Municipal Advisors, Bank Dealers

Status:
Rule G-47
Last Updated: 03/03/2025
Time of Trade Disclosure

Rule Summary: Requires dealers to disclose to customers at or prior to the time of trade all material information known or available publicly through established industry sources.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Request for Comment (12/11/2024)
Concept Release: MSRB Requests Comment on Potential Modernization of Municipal Fund Securities Disclosure Obligations
View Notice
Guidance (03/03/2025)
Time of Trade Disclosures in Inter-Dealer Transactions
View Guidance
Print