Click to see Rules that have recent rulemaking activity or compliance resources:
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
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-3 to Create an Exemption for Municipal Advisor Representatives from Requalification by Examination and Remove Waiver Provisions and to Amend MSRB Rule G-8 to Establish Related Books and Records Requirements [Refiled to make technical changes, original filed on July 17, 2023]
Notice
SEC Approves Amended MSRB Rule G-3 Creating an Exemption for Municipal Advisor Representatives from Requalification by Examination and Related Amendments to MSRB Rule G-8
Books and Records to be Made by Brokers, Dealers, and Municipal Securities Dealers and Municipal Advisors
Rule Summary: Requires dealers and municipal advisors to make and keep current certain specified records.
Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-3 to Create an Exemption for Municipal Advisor Representatives from Requalification by Examination and Remove Waiver Provisions and to Amend MSRB Rule G-8 to Establish Related Books and Records Requirements [Refiled to make technical changes, original filed on July 17, 2023]
Notice
SEC Approves Amended MSRB Rule G-3 Creating an Exemption for Municipal Advisor Representatives from Requalification by Examination and Related Amendments to MSRB Rule G-8
Notice
SEC Approves Amended MSRB Rule G-40 on Advertising by Municipal Advisors, Related Amendments to MSRB Rule G-8(h) on Books and Records to be Made by Municipal Advisors and Related Updates to the MSRB’s FAQs regarding the Use of Social Media
Confirmation, Clearance, Settlement and Other Uniform Practice Requirements with Respect to Transactions with Customers
Rule Summary: Requires dealers to provide customers with written confirmations of transactions, containing specified information, including mark-ups and mark-downs, and prescribes certain uniform practice procedures for dealers that transact municipal securities business with customers.
Dealers, Bank Dealers, Municipal Fund Securities
Notice
MSRB to Retire Select Interpretive Guidance Regarding Inter-Dealer Confirmation Disclosures
Notice
MSRB Adopts Amendments to Rules G-12 and G-15, Shortening Regular-Way Settlement for Municipal Securities Transactions to T+1
Supervision
Rule Summary: Outlines requirements for a dealer’s supervision of personnel engaged in activities involving municipal securities activities.
Dealers, Bank Dealers, Municipal Fund Securities
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-27, on Supervision, to Allow Eligible Dealers to Fulfill Their Internal Inspection Obligation of Certain Offices and Locations Remotely for a Pilot Period, Subject to the Conditions Prescribed under FINRA’s Remote Inspections Pilot Program
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-27, on Dealer Supervision, to Adopt a New Residential Supervisory Location Classification
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-27 to Further Extend the Current Regulatory Relief for Remote Office Inspections through June 30, 2024 and Amend MSRB Rule G-16 to Delete Temporary Relief for the Initiation of Periodic Compliance Examinations of Dealers by the Examining Authorities
Notice
MSRB Amends Rule G-27 to Allow Dealers to Conduct Remote Inspections, Consistent with Recent FINRA Amendments
Notice
MSRB Amends Rule G-27 to Adopt the Residential Supervisory Location Classification Consistent with FINRA Dealer Supervision Provisions
Notice
MSRB Provides Additional Regulatory Relief by Further Extending the Temporary Timeframe for Remote Office Inspections and Files Amendments to Remove Expired Relief Under Rule G-16
Advertising by Municipal Advisors
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.
Municipal Advisors, Municipal Fund Securities
Guidance
FAQs regarding the Use of Social Media under MSRB Rule G-21, on Advertising by Brokers, Dealers or Municipal Securities Dealers, and MSRB Rule G-40, on Advertising by Municipal Advisors
Notice
SEC Approves Amended MSRB Rule G-40 on Advertising by Municipal Advisors, Related Amendments to MSRB Rule G-8(h) on Books and Records to be Made by Municipal Advisors and Related Updates to the MSRB’s FAQs regarding the Use of Social Media
Compliance Resource
FAQs on Use of Municipal Advisory Client Lists and Case Studies
Compliance Resource
Application of the Content Standards to Advertisements by Municipal Advisors under MSRB Rule G-40
Compliance Resource
Assessing Supervision of Municipal Advisor Advertising Regulations
Duties of Solicitor Municipal Advisors
Rule Summary: Establishes the core standards of conduct for solicitor municipal advisors when engaging in solicitation activities that would require them to register with the SEC and the MSRB as municipal advisors.
Municipal Advisors, General Public, Issuers
Time of Trade Disclosure
Rule Summary: 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.
Dealers, Bank Dealers, Municipal Fund Securities
SEC Filing
Proposed Rule Change to Amend MSRB Rule G-47, on Time of Trade Disclosure, to Codify and Retire Certain Existing Interpretive Guidance and Add New Time of Trade Disclosure Scenarios
Notice
SEC Approves Amendments to Rule G-47 to Add Three New Time of Trade Disclosure Scenarios, Codify and Consolidate Existing Guidance, Delete Certain Guidance, and Make Technical Amendments
Underwriting and Transaction Assessments for Brokers, Dealers and Municipal Securities Dealers
Dealers, Bank Dealers, Municipal Fund Securities
SEC Filing
Proposed Rule Change to Establish the 2024 Rate Card Fees for Dealers and Municipal Advisors Pursuant to MSRB Rules A-11 and A-13 (WITHDRAWN)
Notice
Existing Dealer and Municipal Advisor Fees Maintained Upon Withdrawal of 2024 Annual Rate Card
Notice
Current Dealer and Municipal Advisor Fees Upon SEC Suspension of 2024 Annual Rate Card Fees
