 December 31, 2017: Investor and
Municipal Advisory Client Education Notifications
All dealers and municipal advisors must provide a written notification
to customers and municipal advisory clients with a statement that they are registered
with the MSRB and the Securities and Exchange Commission (SEC); the MSRB’s
website address; and a statement as to the availability of the Information for Municipal Securities
Investors and/or Information for Municipal Advisory
Clients brochures. This notification must be provided once each year. See MSRB Rule G-10.
December 31, 2017: SEC Form MA Verification
Within 90
calendar days after a municipal
advisor firm’s fiscal year end (calendar year end for sole proprietors),
the municipal advisor firm must
file an “annual update,” which
is an amendment to the municipal
advisor firm’s SEC Form MA, that either confirms the information is
accurate or updates responses to any item for which the information is no
longer accurate. See SEC Rule § 240.15Ba1-5.
January 1, 2018: Implementation Date for Municipal Advisor Continuing Education Requirements
Amendments to MSRB Rule G-3 on continuing education requirements for municipal
advisors have an implementation date of January 1, 2018. Under amended Rule
G-3, municipal advisor firms are required to complete a needs analysis, develop
a continuing education training plan for their covered persons and deliver applicable
training to all covered persons by December 31, 2018. See MSRB Rule G-3.
January 1-25, 2018: Annual MSRB Registration Affirmation
Each January, all dealers and municipal advisors
registered with the MSRB are required to affirm or correct their registration
information on MSRB Form A-12. See MSRB Rule A-12.
January 29, 2018: Effective Date for Amended Rule G-26 on Customer Account Transfers
The MSRB received approval from
the SEC in July 2017 to amend
MSRB Rule G-26, on customer account transfers, to modernize the rule and
promote a uniform customer account transfer standard for all dealers. The amendments will be effective on January 29,
2018. View the approval notice.
January 31, 2018: Form MA-I Review
Recognizing that the MSRB’s professional fees are calculated on the number of active
Forms MA-I a municipal advisor firm has on file with the SEC as of January 31
each year, the MSRB recommends that firms review the accuracy of their Forms
MA-I before January 31, 2018. See MSRB Rule A-11.
January 31, 2018: Quarterly Political
Contribution Disclosures
All dealers and municipal advisors must submit disclosures to the MSRB,
on a quarterly basis, regarding political contributions under MSRB Rule G-37.
The quarterly disclosures must be submitted through Form G-37 by January 31,
April 30, July 31 and October 31 of each year. See MSRB Rule G-37.
February 9, 2018: Deadline to Submit Comments on MSRB Compliance Initiative
Share your perspective about how the MSRB can most effectively facilitate compliance with its rules to protect investors and municipal entities, and promote market efficiency. The purpose of this request is to jumpstart a long-term dialogue with stakeholders on how the MSRB can most effectively facilitate compliance. Read the request for comment and submit your response by February 9, 2018.
2018:
Annual Municipal Advisor Compliance Certification
On an annual basis, the chief executive officer
or equivalent officer at each municipal advisor firm must certify that it has
in place processes to establish, maintain, review, test and modify written
compliance policies and supervisory procedures reasonably designed to achieve
compliance with applicable rules. See MSRB Rule G-44.
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