Municipal Advisor Records
Five-year records. Every municipal advisor should make and keep true and accurate records of the following 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
- • 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 document created by the municipal advisor that was material to making a recommendation to a municipal entity or obligated person
- • All written agreements (or copies of) entered into by the municipal advisor with any municipal entity, employee of a municipal entity, or an obligated person or otherwise relating to the business of such municipal advisor as such
- • A record of the names of persons who are currently, or within the past five years were, associated with the municipal advisor, not including persons associated with the municipal advisor prior to July 1, 2014
Municipal advisors must also maintain for five years any books and records containing a list or other record of:
- • The names, titles, and business and residence addresses of all persons associated with the municipal advisor
- • All municipal entities or obligated persons with which the municipal advisor is engaging or has engaged in municipal advisory activities in the past five years, not including those prior