Rule Summary: Prohibits dealers from publishing false or misleading advertisements relating to municipal securities or concerning the facilities, services or skills of any dealer; establishes specific requirements for advertisements of new issues and municipal fund securities; and requires a municipal securities or general securities principal to approve in writing advertisements prior to first use.

Rule Summary: Prohibits dealers from using non-public information obtained in the course of certain fiduciary or agency capacities concerning the ownership of securities in furtherance of their business activities or for financial gain.