Click to see Rules that have recent rulemaking activity or compliance resources:

Back to top
Expanded Compact
Number Name Status Rule Category Regulated Entity
Rule G-10 Investor and Municipal Advisory Client Education and Protection Fair Practice Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities
Rule G-15 Confirmation, Clearance, Settlement and Other Uniform Practice Requirements with Respect to Transactions with Customers
Uniform Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-17 Conduct of Municipal Securities and Municipal Advisory Activities Fair Practice Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities
Rule G-19 Suitability of Recommendations and Transactions Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-21 Advertising by Brokers, Dealers or Municipal Securities Dealers
Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-26 Customer Account Transfers Uniform Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-28 Transactions with Employees and Partners of Other Municipal Securities Professionals Uniform Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-30 Prices and Commissions Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-37 Political Contributions and Prohibitions on Municipal Securities Business and Municipal Advisory Business Fair Practice Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities
Rule G-39 Telemarketing Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-40 Advertising by Municipal Advisors
Fair Practice Municipal Advisors, Municipal Fund Securities
Rule G-42 Duties of Non-Solicitor Municipal Advisors Fair Practice Municipal Advisors, Municipal Fund Securities
Rule G-45 Reporting of Information on Municipal Fund Securities Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-47 Time of Trade Disclosure
Fair Practice Dealers, Bank Dealers, Municipal Fund Securities
Rule G-10
Last Updated: 10/05/2021
Investor and Municipal Advisory Client Education and Protection

Rule Summary: Requires dealers and municipal advisors to provide certain notices to customers and clients within specified timeframes.

Rule for:

Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities

Status:
Rule G-15
Last Updated: 05/28/2024
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.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Notice
MSRB to Retire Select Interpretive Guidance Regarding Inter-Dealer Confirmation Disclosures
View Notice
Notice
MSRB Adopts Amendments to Rules G-12 and G-15, Shortening Regular-Way Settlement for Municipal Securities Transactions to T+1
View Notice
Rule G-17
Last Updated: 11/06/2019
Conduct of Municipal Securities and Municipal Advisory Activities

Rule Summary: Requires dealers and municipal advisors to deal fairly with all persons and not to engage in any deceptive, dishonest or unfair practice.

Rule for:

Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities

Status:
Rule G-19
Last Updated: 06/25/2020
Suitability of Recommendations and Transactions

Rule Summary: Sets standards for recommendations by dealers to customers of purchases, sales or exchanges of municipal securities.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-21
Last Updated: 06/28/2019
Advertising by Brokers, Dealers or Municipal Securities Dealers

Rule Summary: 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 for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
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
View Guidance
Rule G-26
Last Updated: 04/22/2019
Customer Account Transfers

Rule Summary: Ensures that a uniform account transfer standard applies to all dealers.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-28
Last Updated: 02/24/2003
Transactions with Employees and Partners of Other Municipal Securities Professionals

Rule Summary: 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 for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-30
Last Updated: 11/17/2016
Prices and Commissions

Rule Summary: 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 for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-37
Last Updated: 08/04/2016
Political Contributions and Prohibitions on Municipal Securities Business and Municipal Advisory Business

Rule Summary: 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 for:

Dealers, Municipal Advisors, Bank Dealers, Municipal Fund Securities

Status:
Rule G-39
Last Updated: 05/24/2013
Telemarketing

Rule Summary: Establishes telemarketing requirements with respect to the municipal securities activities of dealers.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-40
Last Updated: 07/03/2023
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.

Rule for:

Municipal Advisors, Municipal Fund Securities

Status:
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
View Guidance
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
View Notice
Compliance Resource
FAQs on Use of Municipal Advisory Client Lists and Case Studies
View Resource
Compliance Resource
Application of the Content Standards to Advertisements by Municipal Advisors under MSRB Rule G-40
View Resource
Compliance Resource
Assessing Supervision of Municipal Advisor Advertising Regulations
View Resource
Rule G-42
Last Updated: 05/07/2018
Duties of Non-Solicitor Municipal Advisors

Rule Summary: Establishes the core standards of conduct and duties of municipal advisors when engaging in municipal advisory activities (as defined in this rule).

Rule for:

Municipal Advisors, Municipal Fund Securities

Status:
Rule G-45
Last Updated: 04/22/2019
Reporting of Information on Municipal Fund Securities

Rule Summary: 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 for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
Rule G-47
Last Updated: 03/07/2014
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.

Rule for:

Dealers, Bank Dealers, Municipal Fund Securities

Status:
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
View SEC Filing
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
View Notice