The registered representative is considered to be a Municipal Finance Professional and is subject to the political contribution rule.
Who is a municipal finance professional?
What does Municipal Finance Professional (MFP) mean? An MFP is any person who works in municipal underwriting, sales, trading, research, financial advisory, or investment advice .
What is the limit of a political contribution that a municipal finance professional MFP can make?
The MSRB political contribution rule applies a limit of $250 to a contribution made by an MFP (Municipal Financial Professional) to each “campaign” without a 2-year ban being imposed.
Which of the following enforce MSRB rules for bank dealers that are not registered with Finra?
The best answer is B. Enforcement of MSRB rules for bank dealers that are not registered as broker-dealers with FINRA is performed by the bank regulatory bodies – the Office of Comptroller of Currency; the Federal Reserve; and the Federal Deposit Insurance Corporation .
Does the MSRB regulate municipal issuers?
Importantly, the MSRB is not authorized to regulate municipal entities , including state and local government issuers of municipal securities. The MSRB is overseen by Congress and the Securities and Exchange Commission (SEC), and MSRB rules generally must be approved by the SEC before becoming effective.
What is MSRB Rule G 37?
MSRB Rule G-37 establishes several requirements affecting municipal securities broker/dealers , including limitations on business activities triggered by political contributions, limitations on soliciting or coordinating political contributions, and broker/dealer recordkeeping and disclosure.
Which of the following is defined as a municipal finance professional quizlet?
A municipal finance professional (MFP) is an associated person of a FINRA member firm engaged in municipal securities underwriting, trading, sales, financial advisory, research , investment advice, or any other activities that involve communication with public investors about municipal bonds.
Which of the following must be disclosed in negotiated municipal underwriting?
In negotiated municipal underwritings, the spread and offering price of each maturity must be disclosed. There is no requirement to disclose the names of the underwriters, nor their participation amounts.
Who is not required to be fingerprinted at a broker-dealer?
Specifically, for broker-dealers, one need not be fingerprinted if one is: a) not engaged in the sale of securities , b) doesn’t have regular access to the keeping, handling or processing of securities, monies, or original books and records relating to securities or monies of the broker-dealer, and c) does not have ...
Which Regulation D offering can be advertised?
Which Regulation D offering can be advertised? The best answer is C. A Regulation D offering is a “private placement .” It can be sold to a maximum of 35 non-accredited investors and to an unlimited number of accredited investors.
Does MSRB enforce?
While the MSRB is the principal regulator of the municipal securities market, the MSRB does not enforce its rules or conduct compliance examinations . ... The mission of the MSRB is to protect investors, state and local governments, and the public interest, by promoting a fair and efficient municipal securities market.
Which of the following must be approved by a municipal securities principal?
Under MSRB rules, the principal must approve each new account; approve each municipal trade (this need not occur prior to the trade); handle the resolution of each customer complaint; and approve each mailing piece used to solicit business.
Which statement is true about banks that have customer accounts holding both exempt and non exempt securities?
If a bank has customer accounts that hold both exempt and non-exempt securities, it would be obligated to register as a broker-dealer under the Securities Exchange Act of 1934 ; and would be obligated to join SIPC as well.
Who is subject to MSRB rules?
The MSRB sets standards and best practices for both issuers and dealers of munis, as well as mandates transparency of information and disclosure on each issue. The MSRB is a self-regulatory organization that monitors its own members and their activities, subject to SEC oversight .
Who regulates the MSRB?
The SEC maintains oversight for the MSRB and enforces MSRB rules. The MSRB is not authorized to regulate municipal bond issuers directly.
Who regulates the municipal bond market?
The Municipal Securities Rulemaking Board (MSRB) writes investor protection rules and other rules regulating broker-dealers and banks in the United States municipal securities market, including tax-exempt and taxable municipal bonds, municipal notes, and other securities issued by states, cities, and counties or their ...
