To assist municipal advisors preparing to comply with core standards of conduct that become effective June 23, 2016, the Municipal Securities Rulemaking Board (MSRB) recently published a brief overview of the duties and obligations under new MSRB Rule G-42. A companion document for underwriters addresses implications of the rule for underwriters and provides an overview of the rule itself to assist dealers acting as underwriters in understanding the regulatory framework that applies to municipal advisors.
Rule G-42 establishes requirements for many aspects of the relationship between a municipal advisor and its client by addressing the disclosure of conflicts of interest, documentation of the relationship, recommendations and conduct that is specifically prohibited.
MSRB Rule G-42 Resources