If you make an investment through a municipal securities dealer, such institution must provide you with information material to your transaction at or prior to the time you agree to enter into that transaction. This disclosure often will be provided by supplying you with a copy of the issuer's official statement (sometimes referred to as a plan disclosure document in the case of 529 college savings plan). In connection with sales of new issue securities, the official statement must be delivered to you by no later than the settlement of your investment (generally, when you take ownership and have paid for the investment).
The dealer also must provide you with a confirmation of your transaction, which generally must be provided on a transaction-by-transaction basis (for many 529 college savings plans, transactions may instead be confirmed through periodic statements). The transaction confirmation includes basic information about your transaction. In particular, information on the confirmation - particularly the CUSIP number of the security - can be used to search for information about your security on the MSRB's Electronic Municipal Market Access (EMMA) website.
Learn About Your Investments
You should read the official statement carefully and should never hesitate to ask your dealer to answer any questions you have or to clarify any information you do not fully understand. You should not feel constrained to wait for your dealer to deliver the required disclosure information to you. If you want more time to review the official statement, you should let your dealer know. Official statements are available through EMMA. In addition, many issuers may provide on their websites additional information that may be relevant in connection with making an investment in their securities.