Rule Summary: Requires dealers to obtain information from their associated personnel concerning their qualifications to engage in municipal securities business and contemplates that this information will be filed with the appropriate regulatory agency.

Rule Summary: Establishes requirements relating to CUSIP numbers for dealers and, in competitive offerings, municipal advisors; requires underwriter participation in the New Issue Information Dissemination Service (NIIDS); and requires submission of certain information and documents related to auction rate securities and variable rate demand obligations to the SHORT system.