Series 50: Prohibitions

Prohibitions

Rule G-42 specifically prohibits a municipal advisor from the following:

• • Being compensated excessively for its activities
• • Providing an invoice that contains material inaccuracies
• • Providing any information that it knows or should know is false or misleading when attempting to secure a municipal advisory relationship
• • Being involved in a fee-splitting arrangement with an underwriter on a transaction for which it is or has been a municipal advisor
• • Paying to obtain a municipal advisory relationship, except when:
• » The payment is to an affiliate who will contact the municipal entity on the advisor’s behalf