Exercise
Answer TRUE or FALSE
- 1. TRUE or FALSE. Municipal securities dealers are required to register with either the SEC or MSRB.
- 2. TRUE or FALSE. The person designated as the broker-dealer’s primary electronic mail contact must be a registered principal.
- 3. TRUE or FALSE. Municipal securities dealers are required to pay an annual fee of $100 to the MSRB.
- 4. TRUE or FALSE. If a broker-dealer ceases to conduct municipal securities transactions, it need not take any further action with the MSRB.
- 5. TRUE or FALSE. All broker-dealer offices engaged in municipal securities business must keep a copy of MSRB rules available for customer review.
- 6. TRUE or FALSE. After the SEC receives a broker-dealer’s application, assuming no problems, registration with the SEC will generally be effective within 45 days.
Answers
- 1. FALSE. Municipal securities dealers are required to register with both the SEC and MSRB.
- 2. TRUE. Broker-dealers must maintain an internet electronic mail account to permit communication with MSRB and appoint a registered principal to serve as the official contact person for purposes of electronic mail communication.
- 3. FALSE. Municip