MSRB Rules G-8 and G-9: Municipal Advisor Recordkeeping

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Target Audience:                                                                                            

  • Broker-dealers
  • Municipal Advisors

Learning Objectives:

At the end of this course, learners will be able to:

  • Define key terms related MSRB Rules G-8 and G-9;
  • Identify MSRB recordkeeping requirements for municipal advisory activities; and
  • Apply MSRB recordkeeping requirements to municipal advisory activities.
Course Outline:

1. Introduction - Review MSRB Rules’ Records Requirements
a. MSRB Rule A-12: Registration
b. MSRB Rule G-2: Standards of Professional Qualification
c. MSRB Rule G-3: Professional Qualification Requirements
d. MSRB Rule G-8: Books and Records
e. MSRB Rule G-9: Preservation of Records
f. MSRB Rule G-10: Investor and Municipal Advisory Client Education and Protection
g. MSRB Rule G-20: Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance
h. MSRB Rule G-37: Political Contributions and Prohibitions on Municipal Securities Business and Municipal
Advisory Business
i. MSRB Rule G-42: Duties of Non-Solicitor Municipal Advisors
j. MSRB Rule G-44: Supervisory and Compliance Obligations

2. Municipal Advisor Registration
a. Registration with the SEC
i. Municipal Advisor Registration Requirements
ii. Recordkeeping Requirements
iii. Retention Requirements
b. Registration with the MSRB
i. Municipal Advisor Registration Requirements
ii. Recordkeeping Requirements
iii. Retention Requirements

3. Professional Qualification Requirements
i. Recordkeeping Requirements
ii. Retention Requirements
iii. Training Plans

4. Investor and Municipal Advisory Client Education and Protection
i. Disclosures
ii. Recordkeeping Requirements
iii. Retention Requirements

5. Duties of Non-Solicitor Municipal Advisors
i. Disclosures
ii. Recordkeeping Requirements
iii. Retention Requirements

6. Gifts, Gratuities, Non-Cash Compensation and Expenses of Issuance
i. Recordkeeping Requirements
ii. Retention Requirements

7. Political Contributions and Prohibitions on Municipal Securities Business and Municipal Advisory Business
i. Recordkeeping Requirements
ii. Retention Requirements

8. Supervisory and Compliance Obligations Requirements
i. Recordkeeping Requirements
ii. Retention Requirements

9. Assessment