The Municipal Securities Rulemaking Board (MSRB) has issued a number of rules and regulations which govern the activities of municipal securities professionals. The MSRB’s rulebook is known as “G-37” and covers a wide range of topics, from professional qualifications to political contributions. SIE exam candidates should be familiar with G-37 and its requirements in order to pass the SIE exam. In this blog post, we will provide an overview of some of the most important MSRB rules for municipal securities professionals.
G-2: The MSRB Rule G-2 sets forth the professional qualification requirements for municipal securities professionals. Specifically, it outlines the various education and experience requirements that must be met in order to qualify for SIE certification or to become a principal of a broker-dealer.
G-3: Another important rule from the MSRB is Rule G-3, which covers the professional qualifications required for individuals working at municipal securities firms. This rule specifies minimum standards for education and licensing, as well as other professional requirements such as proficiency testing and continuing education.
G-7: In addition to the Rules G-2 and G-3, there are also rules relating to information obligations when dealing with investors. For example, MSRB Rule G-7 requires firms to provide investors with an investment brochure that contains certain key information about the firm and any associated persons.
G-10: MSRB Rule G-10 concerns the delivery of certain disclosures related to municipal securities. This rule requires broker-dealers to deliver a prospectus or other legally required disclosure materials to their clients before entering into a transaction involving municipal securities.
G-20: Finally, MSRB Rule G-20 sets forth requirements for gifts, gratuities, and non-cash compensation. This rule prohibits firms from providing any type of gift or other form of compensation to public officials in order to influence the outcome of any municipal securities transaction. It is crucial for SIE exam candidates to be familiar with all of these rules if they wish to work in the field of municipal securities.
G-37: As the primary rulebook governing the activities of municipal securities professionals, the MSRB’s G-37 rules are essential for anyone preparing to take the SIE exam. G-37 has to do with everything from professional credentials and requirements to restrictions on political contributions, making it essential for SIE exam candidates to understand its provisions in order to pass the exam and succeed in the municipal securities industry.
Whether you are working directly in this industry or simply looking to pass the SIE and pursue other professional opportunities in finance, it is important to understand these key regulations and how they affect your work. With a thorough understanding of MSRB Rules G-2, G-3, G-7, G-10, and G-20, as well as Rule G-37 more broadly, you will be well equipped to succeed on the SIE exam and begin your career in municipal securities. Additionally, Achievable offers comprehensive SIE exam prep to prepare you for the SIE Exam. Achievable’s course will help prepare you for the SIE exam by teaching you about these and other important concepts that you will be tested on.