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.

Rule Summary: Prohibits municipal advisors from publishing false or misleading advertisements concerning the services of the municipal advisor or the engagement of a municipal advisory client or concerning the facilities, services or skills of any municipal advisor, establishes specific content standards for advertisements and requires a municipal advisor principal to approve, in writing, advertisement prior to first use.