Series 54: Chapter Three

Chapter Three

Supervising Municipal Advisor Firm Operations

This chapter focuses on the knowledge you will need to supervise the operations of a municipal advisor. The chapter begins with a discussion of registration requirements and then moves on to the supervision of firm activities. By the end of this chapter, you should be familiar with the following requirements needed to supervise the activities of a municipal advisor.

Registration requirements:

•Register the municipal advisor with the SEC, MSRB and states.

•Educate associated persons and other employees on the application of rules to municipal advisory business (e.g., annual compliance training).

•Identify and provide information on each associated person engaged in municipal advisory activities.

•Maintain registration (e.g., fee