Click to see Rules that have recent rulemaking activity or compliance resources:
Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance (Current Rule for Certain Regulated Entities Effective as of June 1, 2026)
Rule Summary: Prohibits dealers and municipal advisors from giving gifts or providing services in excess of $300 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.**APPLICABLE TO: dealers that are FINRA members, as of June 1, 2026.
Dealers
Proposed Rule Change Consisting of Amendments to MSRB Rule G-20 to Revise the MSRB’s Gift and Gratuities Requirements to Preserve Alignment with Amendments to FINRA Rule 3220 and to Make Certain Technical Amendments
Correction to MSRB Notice 2026-03 Requesting Comments on Draft Amendments to MSRB Rules to Retire Financial Advisor Terminology Pursuant to the MSRB’s Municipal Advisor Retrospective Rule Review
MSRB Amends Rule G-20 to Increase Gift Limit, Consistent with Recent FINRA Amendments
Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance (Legacy Rule for Certain Regulated Entities Effective until December 1, 2026) (LEGACY RULE APPEARS AFTER CURRENT VERSION. SCROLL DOWN TO VIEW.)
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.**APPLICABLE TO: all municipal advisors as well as dealers that are not FINRA members (i.e., bank dealers), until December 1, 2026. The MSRB notes that regulated entities may choose to come into compliance with the current rule changes prior to the referenced operative date.
Municipal Advisors, Bank Dealers
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)
Proposed Rule Change Consisting of Amendments to MSRB Rule G-20 to Revise the MSRB’s Gift and Gratuities Requirements to Preserve Alignment with Amendments to FINRA Rule 3220 and to Make Certain Technical Amendments
Correction to MSRB Notice 2026-03 Requesting Comments on Draft Amendments to MSRB Rules to Retire Financial Advisor Terminology Pursuant to the MSRB’s Municipal Advisor Retrospective Rule Review
MSRB Amends Rule G-20 to Increase Gift Limit, Consistent with Recent FINRA Amendments
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)