564 Results Found
Rule
Best Execution
Requires dealers to use reasonable diligence to ascertain the best market for the subject security and buy or sell in that market so that the resultant price to the customer is as favorable as possible under prevailing market conditions.
Rule
Suitability of Recommendations and Transactions
Sets standards for recommendations by dealers to customers of purchases, sales or exchanges of municipal securities.
Rule
Standards of Professional Qualification
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.
Rule
Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance
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.
Rule
Advertising by Brokers, Dealers or Municipal Securities Dealers
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
Control Relationships
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
Activities of Financial Advisors
Requires dealers to evidence in writing financial advisory relationships and prohibits dealers from serving as financial advisor and underwriter or placement agent on the same issue.
Rule
Use of Ownership Information Obtained in Fiduciary or Agency Capacity
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.
Rule
Improper Use of Assets
Prohibits dealers from improperly using municipal securities or funds held on behalf of another person, guaranteeing customers against loss in customer accounts and transactions, and sharing in profits and losses of customer accounts and transactions by any dealer.
Rule
Customer Account Transfers
Ensures that a uniform account transfer standard applies to all dealers.
Rule
Transactions with Employees and Partners of Other Municipal Securities Professionals
Establishes requirements for dealers who open accounts or effect transactions in municipal securities for a customer who is known to be an employee or partner of another dealer.
Rule
Professional Qualification Requirements
Establishes professional qualification and continuing education requirements for, and specifies the number of supervisory personnel who must be associated with, dealers and municipal advisors.
Rule
Prices and Commissions
Requires dealers to effect transactions in municipal securities with customers at fair and reasonable prices, if acting as principal, and to make reasonable efforts to obtain fair and reasonable prices for customers and to charge fair and reasonable commissions, if acting as agent.
Rule
Reciprocal Dealings with Municipal Securities Investment Companies
Prohibits the solicitation of transactions in municipal securities with or for an investment company account in return for sales by the dealer of shares or units in the investment company.
Rule
Disclosures In Connection With Primary Offerings
Requires underwriters to submit certain information to the Electronic Municipal Market Access (EMMA®) system and dealers to provide certain information to customers in connection with primary offerings.
Rule
Calculations
Prescribes standard formulas for the computation of accrued interest, dollar price and yield; sets standards for accuracy; and establishes day-counting methods.
Rule
Arbitration
Subjects bank dealers to arbitration program.
Rule
Political Contributions and Prohibitions on Municipal Securities Business and Municipal Advisory Business
Prohibits dealers from engaging in municipal securities business and municipal advisors from engaging in municipal advisory business with municipal entities if certain contributions have been made to officials of such municipal entities within the preceding two-year period, and requires dealers and municipal advisors to disclose certain political contributions and other information.
Rule
Solicitation of Municipal Securities Business
Prohibits dealers from paying persons who are not affiliated with the dealers for a solicitation of municipal securities business on their behalf.
Rule
Telemarketing
Establishes telemarketing requirements with respect to the municipal securities activities of dealers.
Rule
Statutory Disqualifications
Prohibits dealers and their associated persons who have been the subject of certain disciplinary actions from qualifying under the MSRB’s professional qualification rules.
Rule
Anti-Money Laundering Compliance Program
Requires a dealer to establish and implement an anti-money laundering program that complies with the rules and regulations governing anti-money laundering programs of either its registered securities association or its appropriate banking regulator.
Rule
Broker’s Brokers
Establishes duties of dealers acting as broker’s brokers, including when conducting auctions of municipal securities known as “bid-wanteds”; requires broker’s brokers to establish policies and procedures regarding bid-wanteds and offerings; and prohibits certain wrongful conduct.
Rule
Reporting of Information on Municipal Fund Securities
Requires dealers, when acting in the capacity of an underwriter for a 529 savings plan or ABLE program, to submit information on a semi-annual or, in the case of performance data, annual basis, to the MSRB.
Rule
Time of Trade Disclosure
Requires dealers to disclose to customers at or prior to the time of trade all material information known or available publicly through established industry sources.
