Recordkeeping Responsibilities

When a syndicate has not been formed for a primary offering, these records must be maintained by the sole underwriter:

• Description and aggregate par value of the securities

• Statement of all terms and conditions required by the issuer

• All orders received for the purchase of the securities from the underwriter

• All allotments of securities and the price at which sold

• Those instances in which the underwriter accorded equal or greater priority to orders for its own account or its related accounts over other orders and the reasons for doing so

• Date and amount of any good faith deposit made to the issuer

• Date of settlement with the issuer

When a syndicate has been formed for the purchase of municipal securities, the syndicate manager must maintain these additional records:

• Name