Series 53: 2.5.5.2. Ban On Business

Taken from our Series 53 Online Guide

2.5.5.2. Ban on Business

A contribution will trigger a ban on municipal advisory business of a municipal advisor with a municipal entity if the contribution was made by any of the following:

Municipal advisor

Municipal advisor professional (MAP)

Political action committee (PAC) that is controlled by either the municipal advisor or a MAP of the municipal advisor

Municipal advisor third-party solicitor or one of its MAPs or PACs (and the firm was engaged by a municipal advisor to solicit municipal advisory business)

Municipal advisory business includes any activities that would require a person to be registered as a municipal advisor. This includes giving advice on the issuing of municipal securities and soliciting municipal entities and their obligated persons.

A contribution will trigger a ban on municipal securities business with a municipal entity if the contribution was made by any of the following:

Municipal securities dealers (including broker and dealers)

Municipal finance professional (MFP)

PAC that is controlled by either the municipal securities dealer or an MFP of the municipal securities dealer

Municipal securities business in this context is defined as:

Purchase of securities in a primary offering from an issuer (a negotiated underwriting, not a competitive underwriting)

Offer or sale of securities in a privat

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