Series 53: 3.1.1.1.2. Time Of Trade Disclosure

3.1.1.1.2. Time of Trade Disclosure

Before executing an order, broker-dealers must provide a time of trade disclosure.

The MSRB has stated that broker-dealers may not sell a municipal security to a customer or purchase a municipal security from a customer without disclosing all material information they know about the transaction and all material information about the security that is reasonably accessible to the market through established industry sources.