Click to see Rules that have recent rulemaking activity or compliance resources:
Standards of Professional Qualification
Rule Summary: Prohibits dealers from effecting transactions in municipal securities and municipal advisors from engaging in municipal advisory activities unless they and their associated personnel are qualified in accordance with MSRB rules.
Dealers, Municipal Advisors, Bank Dealers
Steps for Registering as a Municipal Advisor
Professional Qualification Requirements
Rule Summary: Establishes professional qualification and continuing education requirements for, and specifies the number of supervisory personnel who must be associated with, dealers and municipal advisors.
Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities
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
Steps for Registering as a Municipal Advisor
Uniform Practice
Rule Summary: Establishes uniform industry practices for the processing, clearance and settlement of transactions between dealers in municipal securities.
Dealers, Bank Dealers
Proposed Rule Change to Amend MSRB Rule G-12(c) to Codify and Retire or Revise Certain Existing Interpretive Guidance on Confirmation Requirements for Those Inter-Dealer Municipal Securities Transactions That are Ineligible for Automated Comparison [Refiled to make technical changes, original filed on April 28, 2026]
Proposed Rule Change to Amend Rule G-14 RTRS Procedures under MSRB Rule G-14 Regarding the Timing of Reporting Transactions in Municipal Securities to the MSRB and to Make a Related Amendment to Rule G-12
SEC Approves Amendments to MSRB Rule G-14 on Reporting of Transaction Prices
Reports of Sales or Purchases
Rule Summary: Prohibits dealers from distributing or publishing reports of purchases or sales of municipal securities unless the report is made with knowledge or reason to believe that the transaction was effected, and without any reason to believe that the reported transaction is fictitious, or in furtherance of any fraudulent, deceptive or manipulative purpose, and establishes transaction reporting requirements and procedures.
Dealers, Bank Dealers
Applicability of Trade Reporting for Certain Allocations to Customer Accounts By Dually-Registered Broker-Dealers/Investment Advisers
Proposed Rule Change to Amend Rule G-14 RTRS Procedures under MSRB Rule G-14 Regarding the Timing of Reporting Transactions in Municipal Securities to the MSRB and to Make a Related Amendment to Rule G-12
SEC Approves Amendments to MSRB Rule G-14 on Reporting of Transaction Prices
Periodic Compliance Examination
Rule Summary: Sets forth minimum scope and frequency of periodic compliance examinations of dealers by a registered securities association and bank regulators.
Dealers, Bank Dealers
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.
Dealers, 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
Proposed Rule Change to Amend MSRB Rules A-11 and A-13 Pursuant to a Multi-Year Rate Card and to Make Related Technical Amendments
SEC Approves Amendments to MSRB Rules A-11 and A-13 Establishing New Multi-Year Rate Card Fees for Dealers and Municipal Advisors
Underwriting and Transaction Assessments for Brokers, Dealers and Municipal Securities Dealers
Dealers, Bank Dealers, Municipal Fund Securities
Proposed Rule Change to Amend MSRB Rules A-11 and A-13 Pursuant to a Multi-Year Rate Card and to Make Related Technical Amendments
SEC Approves Amendments to MSRB Rules A-11 and A-13 Establishing New Multi-Year Rate Card Fees for Dealers and Municipal Advisors
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)