Activities of Principals
Only certain principals can oversee certain municipal securities activities. The following table summarizes the activities that each principal can oversee.
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Which Principal Is Permitted to Do the Following Municipal Securities Tasks? |
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Municipal Securities Principal (Series 53) |
Municipal Securities Sales Principal (Series 9/10) |
General Securities Principal (Series 24) |
Municipal Fund Securities Principal* |
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Review and approve new accounts that will transact in municipal securities |
X |
X |
X |
X |
|
Review accounts that will transact in municipal securities for abuse and irregularities |
X |
X |
X |
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|
Approve of municipal transactions (final approval of orders) |
X |
X |
X |
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Oversee compliance with applicable MSRB rules |
X |
X |
X |
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Follow up on complaints regarding municipal securities activities |
X |
X |
X |
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Periodically review each office where municipal securities activities take place |
X |
X |
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