Preservation of Books and Records (MSRB Rules G-8 and G-9)

Under MSRB Rule G-9, records must be maintained for various periods of time and kept for ready inspection by any regulatory authority that has jurisdiction over the advisor or broker-dealer. 

Every municipal advisor should make and keep true and accurate records for at least five years, the first two years in an easily accessible place:

•  Written consents to service of process from each natural person who is a person associated with the municipal advisor and engages in municipal advisory activities solely on behalf of such municipal advisor.

• Originals or copies of all written communications received

• Originals or copies of all written communications sent by the municipal advisor 

•All check books, bank statements, general ledgers, cancelled checks and cash reconciliations of the municipal advisor 

• A copy of each version of the municipal advisor’s policies and procedures that are current or were kept within the last five years

• A copy of any d