Series 54: 1.3.3. Business Promotional Materials (Not Advice)

1.3.3. Business Promotional Materials (Not Advice)

The SEC allows broker-dealers to communicate with municipal entities in order to solicit business for the firm. The SEC has provided a list of types of promotional materials that could be given to a municipal entity without being considered a recommendation or advice. It includes:

• A potential price range for a new issue that factors in current market conditions and some particular information about the municipal entity, like location and credit rating

• Information about the municipal entity’s current debt securities and how the yields compare to current market yields

• Information about a potential range of interest rates and range of maturities for a new issuance of debt securities

• Information available to the general public about the interest rates of State and Local Government Series (SLGS) for the investment of bond refunding proceeds

• Information that demonstrates how much the municipality would save i