Telemarketing Rules
Telemarketing refers to a program or campaign of making outbound telephone calls about municipal securities or municipal financial products. It includes phone calls made to landlines or wireless cellular telephones. Cold-calling an individual about municipal securities is an example of telemarketing. Telemarketing does not include the mailing of written marketing materials in an effort to solicit municipal securities business.
Consistent with federal law, the MSRB requires that telephone soliciting be made between the hours of 8:00 a.m. and 9:00 p.m. in the prospective client’s time zone. The MSRB prohibits cold-calling anyone on the Federal Trade Commission’s National Do Not Call Registry, unless the broker-dealer has an established business or personal relationship with the person or has that person’s prior written consent. An