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Beginning September 12, 2016, municipal
advisor firms can enroll their municipal advisor representatives to take the
MSRB’s Municipal Advisor Representative Qualification Examination (Series 50).
As provided for under MSRB Rule G-3, municipal advisor representatives
are required to take and pass the Series 50 in order to engage in municipal
advisory activities. The MSRB is providing a one-year grace period, ending on
September 12, 2017, to allow municipal advisor representatives to continue to
engage in municipal advisory activities while preparing to take and pass the
Series 50 exam. A list of associated persons at registered municipal advisor firms who have passed the Series 50 exam is available on the MSRB's website. The list includes individuals who participated in the
Series 50 pilot exam, which was administered January – February 2016.
Series 50 Resources
Effective August 17, 2016, new
provisions of MSRB Rule G-37 address municipal advisors’ political
contributions and municipal advisory business. Municipal advisors are now
required to disclose to the MSRB, on a quarterly basis, information about their
political contributions to municipal entity officials, state or local political
parties, and bond ballot campaigns, as well as information about municipal entities
with which they have engaged in municipal advisory business. This information
is submitted through electronic Form G-37 by the last day of the month
following the end of each calendar quarter. The first submission period for
municipal advisors opens October 1, 2016 and ends October 31, 2016. Refer to
the MSRB Rule G-37 Submission Handbook for assistance submitting political
contribution disclosures. The MSRB makes these disclosures available to the
public on its Electronic Municipal Market Access (EMMA®) website to facilitate public scrutiny of the
potential linkages between the giving of political contributions and the
awarding of municipal advisory business.
The MSRB this week launched MuniEdPro℠,
a suite of interactive, online courses about municipal market activities and
MSRB regulations. Each MuniEdPro℠ course allows the learner to apply MSRB rules
to real-world scenarios. Continuing education credit is available through
MuniEdPro℠, and the courses supplement the MSRB's existing library of free regulatory webinars.
See how MuniEdPro℠ can support
municipal advisors' understanding of the municipal market and its regulations.
Read more about MuniEdPro℠. Click here to access MuniEdPro℠.
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