MSRB Registration Manual
Contents
1. nrsnrnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnannnnes 22 Part 5 Trade Reporting Form A 12 oenunennnnennnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnes 27 Part 6 Preview and Submit Form A 12 ennennnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnna 33 Part 7 MSRB Review and Approval of Form A 12 ennonnnnennnnnnnnnnnnnnes 36 Part 8 Form A 12 Updates by Current Registrants ennnnnnnnnnnnnennnnes 37 Part 9 Add Additional Registration Category nssnrnnnunnnnnnnnnnnnnnnnnnnnnnes 41 Part 10 Registration Withdrawal a annaks seneececeateuctevewsucusver sxetauevsustevstecetsesvees 44 Part 11 Registration and Other Fees nonunennnnnennannennannnnnannnnnanannnnnnnes 46 P rt 12 Annual AMEMAUOAS ne aasa aaa aaa a aaa 48 Municipal Securities Rulemaking Board 3 MSRB Registration Manual for Dealers and Municipal Advisors Resources and Support MSRB Website www msrb org EMMA Website emma msrb org For assistance contact MSRB Support at 202 838 1330 or MSRBsupport msrb org Live Support 7 30 a m 6 30 p m ET Email Support 7 00 a m 7 00 p m ET Municipal Securities Rulemaking Board 1300 Street NW Suite 1000 Washington DC 20005 Tel 202 838 1500 Fax 202 898 1500 Municipal Securities Rulemaking Board 4 MSRB Registration Manual for Dealers and Municipal Advisors Introduction The Municipal Se2. Form A 12 Access your organization s existing form data to add or update registration information Proceed to Form A 12 Review Current Form A 12 Information Before updating or affirming your Form A 12 you may wish to view your organization s existing form data to share and validate current information View Current Form A 12 Information Withdraw Registration or Add Additonal Registration Category Registration is changed in the event a firm determines that a new registration or withdrawal of registration s with the MSRB is required Current Registration Broker Dealer and Municipal Advisor Return to Main Menu Municipal Securities Rulemaking Board 44 MSRB Registration Manual for Dealers and Municipal Advisors In the Registration Category form select the None Withdraw all registrations option Registration Category Registration category should only be changed in the event you have determined that a new registration as either a dealer or a municipal advisor or withdraw of either or both registrations is required by MSRB Rule A 12 All other changes should be made in the following Form pages Broker Dealer and Municipal Advisor Broker Dealer Only Municipal Securities Dealer Bank Dealer Municipal Advisor Only Broker Dealer and Municipal Advisor Municipal Securities Dealer and Municipal Advisor None Withdraw all registrations h amp Ifyou are registered as both a dealer and municipal advisor you m
3. b at the top of the screen If the exemption is applicable to your firm you will not be required to complete the Trade Reporting section MSRB Registration Form A 12 Trade Reporting Information required in the trade reporting section is used to ensure that your trade reports can be processed correctly by the trade reporting program Please check the box below if exempt from reporting trades C The firm is exempt from trade reporting pursuant to Rule G 14 b Please provide information about the manner of reporting trades or specify if you are exempt from trade reporting Trade Reporting Identifiers Submission and Feedback OOO OM Form A 12 Sections General Information Identifiers assigned to dealers by NASDAQ and NSCC are used in the processing of trade reports in RTRS Business Activities Trades cannot be reported without having a valid identifier registered with the MSRB E Contact Information D Trade Reporting EXECUTING BROKER SYMBOL EBS ASSIGNED BY NASDAO No executing broker symbol EBS on record Add New Symbol Related Links Registration Guidelines PARTICIPANT ID ASSIGNED TO YOUR COMPANY BY NSCC MSRB Registration Manual No identifier on record Gateway Manual MSRB Rule A 12 Add New Identifier Continue gt Municipal Securities Rulemaking Board 27 MSRB Registration Manual for Dealers and Municipal Advisors Trade Reporting Identifiers Trade reporting identifiers inclu
4. enter your participant ID then click the Save button Participant Identifier Participant ID 1234 Receive error feedback by email Email Municipal Securities Rulemaking Board 29 MSRB Registration Manual for Dealers and Municipal Advisors Submission and Feedback From the Submission and Feedback tab click one or more of the options in the Identify the manner in which transactions will be reported section Trade Reporting Identifiers Submission and Feedback Submission information describes the manner in which transactions will be reported including the identity of any intermediary dealer to be used as a submitter Feedback information identifies the method to be used for reviewing and responding to trade status and error code information IDENTIFY THE MANNER IN WHICH TRANSACTIONS WILL BE REPORTED All dealers can use RTRS Web to submit or update transaction information In addition dealers may report trades through one of the submission portals made available by NSCC or employ another dealer as agent Choose all that apply C Report own trades using message based trade portal operated by National Securities Clearing Corporation NSCC and RTTM Web Trades will be reported by another dealer acting as agent RTRS Web only METHOD OF RECEIVING ERROR FEEDBACK Trade status information from RTRS indicating a problem or potential problem with reported trade data must be reviewed and addressed promptly to ensu
5. lapsed or withdrawn registration i Same address filed with Securities Firm Address AA and Exchange Commission Firm Website URL if applicable Organization Tvpe Such as corporation sole i proprietorship Partnership etc Where the organization is organized incorporated or established e National and State Chartered Banks Provide the city and el andtale state listed on their Form MSD that has been submitted to the SEC State Corporate Entities i e LLC C Corp etc Firms that Municipal Securities Rulemaking Board 12 MSRB Registration Manual for Dealers and Municipal Advisors are incorporated under state law should put that state and the city of their registered office sole Proprietors List the city and state of their primary office A written notice to a securities association or regulatory agency must be uploaded as a PDF document This document is required if a firm is a registering initially or adding a new registration category and b if the firm is a FINRA member or bank dealer The notice should contain the following elements Element oo Same name as the firm name Firm Name entered on the form For example Name of Firm has notified Authority Name on Date Statement of Prior of Notification of its intent to Notification engage in municipal securities activities as of Intended Effective Datel Authority Name Identify FINRA or appropriate bank regulator Date of n
6. page to acknowledge the submission and click submit Municipal Securities Rulemaking Board 33 MSRB Registration Manual for Dealers and Municipal Advisors Review your submission carefully Click the Edit button to make any changes needed to ensure all of the information is correct SSE Horr Comiect ond Support fP imal Securldhes Rulemnakiog Hoard MSRB Registration Form A 122 Preview Thi i o proce of your Porm A LE Picco roll ce Mc cod of ces pegs to einoslodgc Chic surian and dick suki Form 4 12 Sections FIRMS SOLE PROPRIETORSHIP LOENMTIFIERS Firm Meme John Ooo Gecesi SEC ID 2 LE Municipal Ariea SEC ID SBSOLEESS ET CRD Murmbcr 1237 a General Infomation a Business amp cth ies a Contact Infonmetion af Tred Reporting ron E Smit Lepo En tr enr ji Document Municipo Sccwri cx Busisa Inari Related Links Septet Sade MEAS Sogisirikan Moma BUSINESS INFORMATION Goima Meru fio Addo LES Main Stree MERE File Ara City Ce Mebc ST Tip 12383 Pim Waeb Grgenitseiien Typz Limited Lisbiiy Comporp LUC Cy OCF Sisto ST BUSINESS ACTIVITIES Munbdpal dvisor gence Ahi mr Adios Promos of Municipol Sori merle Ahi Punia of Monies Sly Broker Dealer MFZ Leos Gowvermmeni fervent col DilriBulor Socks Broker Dzaker Sales Trading Actol Saka Broker Paraker Other El Lidanmriting Broker Pealker Other Acanarch OESTGHATED CONTACTS Haster Account Adminimbreikor arm
7. s broker means a dealer or a separately operated and supervised Broker s Broker division or unit of a dealer that principally effects Activities transactions for other dealers or that holds itself out as a broker s broker A broker s broker may be a separate company or part of a larger company A dealer that effects purchase or sale transactions in Online Brokerage municipal securities for retail customers via an online platform From the Broker Dealer Sales Trading tab select all of the business activities engaged in by your firm Broker Dealer MFS Broker Dealer Sales Trading Broker Dealer Other Select all that apply Retail Sales Institutional Sales Trading Proprietary Trading Inter Dealer Broker s Broker Activities Online Brokerage Continue gt Note that if you select the Broker s Broker Activities option you will have to indicate which Executing Broker Symbol EBS will be used for such activities in the Trade Reporting section of Form A 12 Municipal Securities Rulemaking Board 17 Broker Dealer Other MSRB Registration Manual for Dealers and Municipal Advisors All other business activities are listed in the table below Underwriting Clear and settle transactions as NSCC participant Alternative Trading System Remarket VRDOs ARS Program Dealer Research Engage in other activities that reguire registration Acgu
8. to review update as necessary and affirm the information in Form A 12 during the Annual Affirmation Period that commences on January 1 ot each calendar year The Annual Affirmation Period ends 17 business days thereafter The annual affirmation must be completed by the Primary Regulatory Contact Optional Regulatory Contact or Compliance Contact During the affirmation period the primary or optional regulatory contact or the compliance contact for each registered firm must log into MSRB Gateway to review the information on Form A 12 If no updates are required the appropriate individual can affirm the information by submitting Form A 12 with no changes If updates are required the appropriate individual should make the necessary updates and submit Form A 12 A new registrant that submits its initial Form A 12 during the Annual Affirmation Period is not required to also affirm Form A 12 during that period Municipal Securities Rulemaking Board 48
9. Investment Advisory Municipal Escrow Investment Advice Municipal Escrow Investment Brokerage _ Solicitation of Business Other than Investment Advisory _ Municipal Advisor Underwriter Selection Advice 0 Other specify Continue gt Municipal Securities Rulemaking Board 21 MSRB Registration Manual for Dealers and Municipal Advisors Part 4 Contact Information Form A 12 MSRB Rule A 12 f reguires each broker dealer municipal securities dealer and municipal advisor to designate on Form A 12 the following contacts The Master Account Administrator maintains each registrant s MSRB Gateway account via a web portal containing all MSRB Market Transparency submission services applications and the associated forms Master Account ensures only appropriate personnel of the registrant have Administrator access to MSRB systems and serves as the MSRB s primary contact for any and all issues that may arise regarding the MSRB Gateway account A Master Account Administrator must be assigned on the Form A 12 for a registrant to save its progress made on the form The Primary 8 Optional Regulatory contacts are authorized contacts under MSRB Rule A 12 to receive official communications from the MSRB In the case of brokers dealers or municipal securities dealers both contacts are reguired to be registered Primary 8 Optional principals It is the responsibility of the Primary Regulatory Contact Re
10. MSRB Registration Manual Version 1 4 August 2015 aaa a I MSRB Municipal Securities Rulemaking Board MSRB Registration Manual for Dealers and Municipal Advisors Revision ne Description of Changes to provide instructions on the registration process May 2014 under MSRB Rule A 12 which replaced MSRB Rules G 40 A 14 A 15 and part of G 14 effective May 12 2014 June 2014 Added clarification to the following fields City State and Participant ID Clarified instructions for annual Form A 12 affirmation February M period Removed transitional considerations Updated 2015 A Business Activities screenshots Updated the Resources and Support section to reflect the August 2015 Poe a deus change in hours of operation for Email Support Updated to include the new Save Progress functionality July 2014 in Form A 12 and to include the option for Municipal Advisors to register with the new SEC ID prefix Municipal Securities Rulemaking Board 2 MSRB Registration Manual for Dealers and Municipal Advisors Table of Contents MOUCHO aare aaa E EE E A A EAE mm 5 Part 1 Access MSRB Online Registration ennenennennnnennnnennnnannnnennnnanena 7 Part 2 General Firm Information Form A 12 neennennnnennnnennnnennnnnnnnnnns 12 Pat 5 BUSIMESS ACUVIUGS 5 is etikette iki aasia aal ia ila aia la ala ala ERANG 15 Part 4 Contact Information Form A 12
11. ateway To return to MSRB org from within the MSRB Gateway application click on the MSRB Home link at the top right corner of the page User ID If you are experiencing log in or other system related problems please check the MSRB Systems Status Page for more information If you need additional help please contact the MSRB via email at GatewaySupport msrb org or by phone at 703 797 6668 Password Forgot password t A Access Online Training about Submitting to EMMA Don t have an account Register The MSRB recommends not bookmarking this page MSRB Gateway Manual Municipal Securities Rulemaking Board 37 MSRB Registration Manual for Dealers and Municipal Advisors Next expand the Registrant Information Form option then click the Form A 12 link Account and Organization Management Manage profile information for your User Account or for your organization My Profile User Agent Relationship Management Rote Invite and approve agent invitations to from organizations Omaka gt Manage Agent Relationships Manage your organization s relationships with other organizations Registrant Information Forms Submit forms to provide information about your organization Form A 12 Market Transparency Systems Access MSRB systems to submit documents and data related to municipal market activity and political contributions If the link to Form A 12 does not appear on the Gateway main page your
12. ay withdraw one orthe other Select the registration category that will remain active If you are voluntarily withdrawing your registration enter voluntary in the Withdraw Registration form If the withdrawal of registration is involuntary 1 e a withdrawal as part of a regulatory sanction or settlement describe the circumstances or actions that lead to the withdrawal in the Withdraw Registration form Next click the Withdraw button Withdraw Registration WARNING Withdrawing registration removes access to MSRB systems immediately upon submission Are you sure you want to submit your withdrawal at this time Yes No Please provide the Board with a description of and reason for your change in registration status If the change is voluntary you have the option to enter voluntary Reason for withdrawal The Withdrawal Pending screen appears indicating that the MSRB has been notified of your intent to withdraw your registration s Withdrawal Pending The MSRB has been notified of your intent to withdraw your registration s Upon approval of your request your firm will no longer be MSRB registered You will receive an email once the request has been processed If you have questions about the process or you request was submitted in error please contact MSRB Support at 703 797 6668 Return to Main Menu Municipal Securities Rulemaking Board 45 MSRB Registration Manual for Dealers and Municipal Advis
13. cel amp Note that if you select RTRS Web Only option you must de select all other transaction reporting options Municipal Securities Rulemaking Board 31 MSRB Registration Manual for Dealers and Municipal Advisors Next click one or more of the options in the Method of Receiving Error Feedback section Trade Reporting Identifiers Submission and Feedback Submission information describes the manner in which transactions will be reported including the identity of any intermediary dealer to be used as a submitter Feedback information identifies the method to be used for reviewing and responding to trade status and error code information IDENTIFY THE MANNER IN WHICH TRANSACTIONS WILL BE REPORTED All dealers can use RTRS Web to submit or update transaction information In addition dealers may report trades through one of the submission portals made available by NSCC or employ another dealer as agent Choose all that apply O Report own trades using message based trade portal operated by National Securities Clearing Corporation NSCC and RTTM Web 0 Trades will be reported by another dealer acting as agent RTRS Web only METHOD OF RECEIVING ERROR FEEDBACK Trade status information from RTRS indicating a problem or potential problem with reported trade data must be reviewed and addressed promptly to ensure that the information being disseminated by RTRS is as accurate and timely as possible Choose all that apply
14. cipal Advisor Municipal Securities Dealer and Municipal Advisor None Withdraw all registrations Municipal Securities Rulemaking Board 42 MSRB Registration Manual for Dealers and Municipal Advisors The Form A 12 will appear on the screen and you must complete the information necessary for the new registration category Note the sections to be completed are indicated in the Form A 12 Sections menu on the right MSRB Registration Form A 12 General Firm Information MSRB ID T0001 Status APPROVED Please complete all required fields Form A 12 Sections FIRM SOLE PROPRIETORSHIP IDENTIFIERS T General Information Business Activities Contact Information Firm Name Dealer XYZ af Trade Reporting MSRB ID T0001 Status APPROVED Dealer SEC ID 8 Municipal Advisor SEC ID 866 Preview amp Submit CRD Number Legal Entity Identifier Related Links WRITTEN NOTICE TO FINRA OR BANK REGULATOR FED OCC OR FDIC AS APPLICABLE Upload a Document PDF Choose File No file chosen Upload BUSINESS INFORMATION Firm Address 123 Main Street City State ST Zip 12345 Firm Website TYPE OF ORGANIZATION Choose the appropriate organization type from the list provided and indicate the city and state in which it is organized incorporated or established Organization Type Limited Liability Partnership LLP x City Alex State VA Denotes required fields Back Continue Once you have
15. complete the Form A 12 registration ACKNOWLEDGEMENT The Submission Confirmation screen appears on the screen stating that your registration is pending MSRB approval MSRB Registration Form A 12 Submission Confirmation Your Form A 12 has been received by the MSFB The filing has been placed in a PENDING status while MSRB staff verify certain form information If you believe there was an error on the form or have questions about the approval process please contact MSRB Support at 703 797 6668 To view your submitted Form 4 12 click here MSRB Rules A 12 and A 14 require municipal securities dealers and municipal advisors to pay an initial fee of 100 and an annual fee of 500 to have their registration approved View MSRB bill payment options Retum to MSRB org Municipal Securities Rulemaking Board 35 MSRB Registration Manual for Dealers and Municipal Advisors Part 7 MSRB Review and Approval of Form A 12 After Form A 12 is submitted and payment has been processed MSRB staff will review and when appropriate approve the form If there are questions about the information submitted on the form an MSRB staff member will contact you Failure to respond promptly to MSRB inquiries about the form under review will be grounds for rejecting the form In the event that no response is received within 30 days the form will be rejected Once the form has been submitted the Submission Confirmation appears on the screen To v
16. completed all of the sections repeat the steps to preview and submit the updated Form A 12 Municipal Securities Rulemaking Board 43 MSRB Registration Manual for Dealers and Municipal Advisors Part 10 Registration Withdrawal If you choose to remove your registration user rights associated with your registration category either as a dealer or a municipal advisor will be removed and you will no longer have access to your MSRB Gateway account To withdraw your registration log in to your MSRB Gateway Account From the MSRB Gateway Main Menu expand the Registration Information Forms option and click on the Form A 12 link Account and Organization Management Manage profile information for your User Account or for your organization My Profile User O Agent Relationship Management Invite and approve agent invitations to from organizations gt Manage Agent Relationships Manage your organization s relationships with other organizations Registrant Information Forms Submit forms to provide information about your organization gt Form A 12 Market Transparency Systems Access MSRB systems to submit documents and data related to municipal market activity and political contributions Note that your existing registration category is highlighted in Current Registration field Click the Withdraw or Add Registration Category link at the bottom of the form MSRB Registration Form A 12 Update or Affirm
17. cted these contacts will receive an email stating the reason for the rejection along with a call center ticket number to reference if you have questions about the rejection SSS DOOM ee eS Municipal Securities Rulemaking Board 36 MSRB Registration Manual for Dealers and Municipal Advisors Part 8 Form A 12 Updates by Current Registrants After registering dealers and municipal advisors have an ongoing obligation under MSRB Rule A 12 to keep the information submitted on Form A 12 up to date If any information has become inaccurate or incomplete the firm must submit an updated Form A 12 reflecting the new information within 30 days of the change Access Form A 12 Firms that are already registered with the MSRB can access Form A 12 through MSRB Gateway Begin by going to the MSRB website at msrb org Click on the Login link About MSRB EMMA Careers Email Updates File a Complaint Login OO Municipal Securities Rulemaking Board Advanced Search Municipal Bond Market Rules Disclosures and Data Market Leadership News Events and Training Resources for MSRB Publishes EMMA men wun 4 j cess Updated Fact Book ov Visit the EMMA Website CN Login 7 to MSRB systems Don t have an account ual Register here Welcome to MSRB Gateway the secure access point for all MSRB applications including EMMA Click here for guidance on user account management and information about the MSRB s G
18. curities Rulemaking Board MSRB protects investors issuers of municipal securities entities whose credit stands behind municipal securities and public pension plans by promoting a fair and efficient municipal market The MSRB fulfills this mission by regulating securities firms banks and municipal advisors that engage in municipal securities and advisory activities To further protect market participants the MSRB promotes disclosure and market transparency through its Electronic Municipal Market Access EMMA website provides education and conducts extensive outreach The MSRB has operated under Congressional mandate with oversight by the Securities and Exchange Commission since 1975 The MSRB Registration Manual provides instructions for the reporting of information required under MSRB Rule A 12 using electronic Form A 12 as well as other information relevant to fee payments and reporting under the rule MSRB Rule A 12 applies to brokers dealers and municipal securities dealers engaging in municipal securities activities and municipal advisors engaging in municipal advisory activities Brokers dealers municipal securities dealers collectively dealers and municipal advisors must register with the MSRB prior to engaging in municipal securities and advisory activities Form A 12 is the single consolidated form for registrants to provide the MSRB with registration information required under MSRB Rule A 12 Form A 12 is used to e Initia
19. d Optional Technical Contact No contact assigned Continue You can also add a new contact using the New Contact link Repeat the steps mentioned in the Required Contact section to assign Once the contacts have been designated click the Continue button to complete this section New Contacts Any new contacts will upon approval of the form receive emailed instructions for establishing a new MSRB Gateway account The email will provide them with their username and provide a link to a page in MSRB Gateway where the password setting process may be completed Note that new users who are creating a password for the first time perform the same steps as if the account belonged to an existing user who has forgotten his or her password Users who establish passwords for their accounts will be able to access MSRB Gateway to perform any functions permitted under their account status Additional information about MSRB Gateway user accounts may be found in the MSRB Gateway User Manual for Dealers and Municipal Advisors which can be found on MSRB org Municipal Securities Rulemaking Board 26 MSRB Registration Manual for Dealers and Municipal Advisors Part 5 Trade Reporting Form A 12 Information reguired in the trade reporting section is used to ensure that your trade reports can be processed correctly by the MSRB If your firm is exempt from reporting trades check the box for Exempt from reporting trades under Rule G 14
20. de Executing Broker Symbol EBS and Participant ID From the Trade Reporting Identifiers tab click on the Add New Symbol link to report your EBS assigned by NASDAQ Trade Reporting Identifiers Submission and Feedback Identifiers assigned to dealers by NASDAQ and NSCC are used in the processing of trade reports in RTRS Trades cannot be reported without having a valid identifier registered with the MSRB EXECUTING BROKER SYMBOL EBS ASSIGNED BY NASDAQ No executing broker symbol EBS on record Add New Symbol PARTICIPANT ID ASSIGNED TO YOUR COMPANY BY NSCC No identifier on record Add New Identifier In the Executing Broker Symbol form enter your EBS then click the Save button Executing Broker Symbol EBS EBS ABCD Receive error feedback by email Email i Note that if you selected the Broker s Broker Activities option in the Business Activities section of the form you must check the Broker s Broker option to indicate that the EBS will be primarily used for broker s brokers trades Dealers that use more than one EBS to principally effect transactions for other dealers must enter each EBS and indicate that the EBS will be used for broker s broker trades Executing Broker Symbol EBS EBS ABCD Receive error feedback by email Email Broker s Broker L C Municipal Securities Rulemaking Board 28 MSRB Registration Manual for Dealers and Municipal Advisors To determine if yo
21. down menu or add a new contact to assign to each role Jane Doe Mrs Select Role Master Account Administrator Primary Regulatory Contact Billing Contact Compliance Contact rimary Data Quality Contact New Contact Master Account Adm No contact assigned E Primary Regulatory Contact No contact assigned Billing Contact No contact assigned Compliance Contact No contact assigned Primary Data Ouality Contact No contact assigned Continue Repeat these steps to add all of the reguired contacts Note that a person may be assigned to more than one role However only one person can serve a single role Optional Contacts A broker dealer municipal securities dealer and municipal advisor may add one or more of the following optional contacts e Optional Regulatory Contact e Optional Data Quality Contact e Optional Technical Contact From the Optional Contacts tab you may assign one or more of the optional roles using your existing contact list However only one person can serve a single role Municipal Securities Rulemaking Board 25 MSRB Registration Manual for Dealers and Municipal Advisors Reguired Contacts Optional Contacts Optional contacts may be identified to facilitate communication in the event that the required contact is unavailable Select Contact Select One T New Contact Optional Regulatory Contact No contact assigned Optional Data Quality Contact No contact assigne
22. dvisor registration or if you are already registered as a municipal advisor and will be adding a dealer registration you must amend your existing Form A 12 To effect this type of registration change the individual designated as your organization s Regulatory Contact Primary or Optional must log into MSRB Gateway to submit an amended Form A 12 Click here to access the MSRB Gateway log in page Initial and Annual Registration Fees Each broker dealer municipal securities dealer and municipal advisor shall pay to the Board an initial registration fee as specified in MSRB Rule A 12 A firm registering as both a dealer and as a municipal advisor need only pay one initial registration fee As part of its initial registration each dealer and municipal advisor shall also pay to the Board the first annual registration fee as specified in MSRB Rule A 12 For any broker dealer municipal securities dealer or municipal advisor that registers and pays an annual registration fee during the month of September the annual registration fee for the following fiscal year beginning in October shall be waived Registration Process The registration process begins with submitting Form A 12 Upon receipt your registration will be placed in pending status until registration fees are processed and MSRB verifies the information provided on the form Please be advised that broker dealers cannot effect municipal securities transactions until the necessary members
23. e A 12 e Click Registration Guidelines to return to the brief overview of MSRB Registration provided before you continued to Form A 12 e Click MSRB Registration Manual to refer to this manual as you complete the form e The Gateway Manual provides administrative instructions for organization accounts and account management e View the full text of MSRB Rule A 12 for details on the registration requirements for dealers and municipal advisors Municipal Securities Rulemaking Board 11 MSRB Registration Manual for Dealers and Municipal Advisors Part 2 General Firm Information Form A 12 MSRB Rule A 12 reguires dealers and municipal advisors to provide identifying information to the MSRB In the General Firm Information complete the following fields Field 0099999 Notes O O O o O Same name filed with Securities and Exchange Commission SEC Dealer SEC ID Number assigned by SEC Municipal Advisor SEC ID Number assigned by SEC Number assigned by FINRA to the Central Registration organization Note that this is not Repository CRD Number the CRD number assigned to a registered individual 20 digit alpha numeric code Legal Entity Identifier assigned by a Local Operating optional Unit LOU or pre LOU of the Global Legal Identifier System The document must be uploaded Written Notice To Securities as a PDF Only required when Association or Regulatory adding a new registration or Agency renewing a
24. es tax rate studies appraisals and similar documents related to an offering of municipal securities Advice concerning the investment of the proceeds of municipal securities including without limitation advice concerning the structure timing terms and other similar matters concerning such investments Investment Advice Proceeds of Municipal Securities Municipal Securities Rulemaking Board 19 Investment Advice Funds of Municipal Entity Municipal Escrow Investment Advice MSRB Registration Manual for Dealers and Municipal Advisors Advice concerning the investment of other funds of a municipal entity including without limitation advice concerning the structure timing terms and other similar matters concerning such investments Advice concerning municipal escrow investments including without limitation advice concerning their structure timing terms and other similar matters Municipal Escrow 0 Brokerage of municipal escrow investments Investment Brokerage Guaranteed Investment Contracts Advice Municipal Derivatives Advice Solicitation of Business Investment Advisory Solicitation of Business Other than investment advisory Municipal Advisor Underwriter Selection Advice Advice concerning guaranteed investment contracts including without limitation advice concerning their structure timing terms and other similar matters Advice concerning the use of municipal derivati
25. f its trade reporting and other regulatory obligations Registrants also have the option to provide a second contact person capable of responding to MSRB Primary and Optional communications regarding the guality and control of the Data Quality Contact registrant s data transmissions There are no data submission reguirements for municipal advisors or dealers exempt from the transaction reporting requirements under Rule G 14 b at this time However these registrants must designate a Data Quality Contact in the event that future rulemaking may impose new data submission requirements on these registrants The Optional Technical Contact should be able to respond to inquiries from the MSRB related to a registrant s technical capabilities and potential technical issues in connection with trade reporting and other programs Optional Technical Contact MSRB Rule A 12 reguires firms to update their Form A 12 within 30 days following a change to any information contained in the form This includes any changes or updates to your firm s contact information Municipal Securities Rulemaking Board 23 MSRB Registration Manual for Dealers and Municipal Advisors Required Contacts From the Required Contacts tab click on the New Contact link MSRB Registration Form A 12 Contact Information Please designate all reguired contacts Reguired Contacts Optional Contacts Form A 12 Sections General Information MSRB Rule A 12 requ
26. gistration Form A 12 Submission Confirmation Your Form A 12 has been received by the MSRB The filing has been placed in a PENDING status while MSRB staff verify certain Form information If you believe there was an error on the Form or have questions about the approval process please contact MSRB Support at 703 797 6668 To view your submitted Form A 12 click here q MSRB Registration Manual Return to Gateway Menu Municipal Securities Rulemaking Board 40 MSRB Registration Manual for Dealers and Municipal Advisors Part 9 Add Additional Registration Category To modify an existing registration category log in to your MSRB Gateway Account From the MSRB Gateway Main Menu expand the Registration Information Forms option and click on the Form A 12 link Account and Organization Management a al Manage profile information for your User Account or for your organization User Rowe Agent Relationship Management User Nome Invite and approve agent invitations to from organizations Oualata MSRS gt Manage Agent Relationships eat Manage your organization s relationships with other organizations Registrant Information Forms Submit forms to provide information about your organization gt Form A 12 lt lt Market Transparency Systems Access MSRB systems to submit documents and data related to municipal market activity and political contributions Note that your existing regist
27. gulatory Contact to receive official communications from the MSRB similar to the role of the primary electronic mail contact under former MSRB Rule G 40 Also the Primary Regulatory Contact Optional Regulatory Contact or Compliance Contact is reguired to annually affirm the information in Form A 12 The Compliance Contact must be an individual capable of competently responding to inguiries from the MSRB about registrants monitoring of day to day operations internal controls and policies and procedures established to comply with applicable rules and regulations The Compliance Contact is not required to be a registered principal Also the Compliance Contact Primary Regulatory Contact or Optional Regulatory Contact is required to annually affirm the information in Form A 12 Each registrant must provide a Billing Contact who is responsible for receiving electronic statements and Billing Contact invoices from the MSRB that relate to fees assessed under MSRB Rules A 11 A 12 and A 13 facilitating payment of such invoices and acting as the MSRB s first Compliance Contact Municipal Securities Rulemaking Board 22 MSRB Registration Manual for Dealers and Municipal Advisors point of contact regarding billing and payment guestions for such fees Each registrant is reguired to identity an individual that could respond to MSRB inguiries related to the guality and control of the data the registrant transmits to the MSRB as part o
28. hip or registration has been approved with the appropriate registered securities association or regulatory agency Questions about your registration status or about how to complete the registration process may be directed to MSRB Support at 703 797 6668 Continue with Registration Exit Terms and Conditions Privacy Statement Site Map 2014 Municipal Securities Rulemaking Board 1900 Duke Street Suite 600 Alexandria VA 22314 192 168 30 48 Municipal Securities Rulemaking Board 8 MSRB Registration Manual for Dealers and Municipal Advisors MSRB Registration Categories An organization can register for one of the following registration categories e Broker Dealer Only Municipal Securities Dealer Bank Dealer Municipal Advisor Only Broker Dealer and Municipal Advisor Municipal Securities Dealer and Municipal Advisor An organization may have dual registration as a Municipal Securities Dealer or Bank Dealer and Municipal Advisor See registration options below for registration requirements To begin in Step 1 click on the Select Registration Category link MSRB Registration Form A 12 Related Links Registration Guidelines MSRB Registration Manual The information required for registration is determined in part by the type of registration Gateway Manual MSRB Rule A 12 Step 1 Select Registration Category The Registration Category drop down menu appears Select the appropriate category Registrati
29. iew your pending Form A 12 click on the click here link A PDF version of your Form A 12 appears on the screen MSRB Registration Form A 12 Submission Confirmation Your Form A 12 has been received by the MSRB The filing has been placed in a PENDING status while MSRB staff verify certain form information If you believe there was an error on the form or have questions about the approval process please contact MSRB Support at 703 797 6668 MSRB Rules A 12 and A 14 require municipal securities dealers and municipal advisors to pay an initial fee of 100 and an annual fee of 500 to have their registration approved View MSRB bill payment options Retum to MSRB org The Master Account Administrator Primary Regulatory Contact Optional Regulatory Contact and Compliance Contact will also receive an email acknowledging that the MSRB has received your Registration form I While a form is being reviewed a new form cannot be submitted If you submitted a form that contains inaccurate or incomplete information immediately contact MSRB Support at 202 838 1330 If the form has been approved whether immediately or after MSRB review registration with the MSRB becomes effective and the aforementioned contacts will receive a confirmation email indicating the MSRB Registration is effective These contacts will also receive an additional email with MSRB Gateway account information including User IDs and access instructions If the form is reje
30. ion links on the right will always take you to the first tab in the section Form A 12 Sections General Information Business Activities Contact Information Trade Reporting The orange i indicates the section has not been completed A green checkmark will appear to indicate the section has been completed Municipal Securities Rulemaking Board 10 MSRB Registration Manual for Dealers and Municipal Advisors The Save Progress feature is available so that new registrants may save the information entered and return at a later time to complete Form A 12 The link is located at the bottom left of the form The Save Progress link is only enabled after a Master Account Administrator has been assigned in the Contacts section of Form A 12 You must assign a Master Account Administrator under Contacts section in order to be able to save your Form 4 12 information To save the information entered in Form A 12 click the Save Progress link A temporary link is sent to the email address ot the assigned Master Account Administrator to access and complete Form A 12 For additional information on the role ot a Master Account Administrator please refer to the Contacts section of this manual Resources The Related Links section provides resources to assist you in the registration process The related links open in a new tab in your browser to allow you to keep the form open for editing Related links MSRB Rul
31. ion of the activity must be provided Municipal Securities Rulemaking Board 15 MSRB Registration Manual for Dealers and Municipal Advisors From the Broker Dealer MFS tab select all of the business activities engaged in by your firm Broker Dealer MFS Broker Dealer Sales Trading Broker Dealer Other Select all that apply 0 529 Plan Underwriting O 529 Plan Sales Local Government Investment Pool Distributor Sales O Other Continue gt Broker Dealer Sales Trading The business activities for sales or trading are listed in the table below Retail Sales Institutional Sales Trading Proprietary Trading Inter Dealer Effect purchase and sale transactions in municipal securities on behalf of retail customers including either agency or principal transactions Transactions in municipal fund securities are not included Effect purchase and sale transactions in municipal securities on behalf of institutional customers including either agency or principal transactions Transactions in municipal fund securities are not included Trading of municipal securities using the firm s capital rather than customer capital to generate profit for the firm A trade between two municipal securities dealers in transactions as agent or principal Municipal Securities Rulemaking Board 16 MSRB Registration Manual for Dealers and Municipal Advisors As defined in MSRB Rule G 43 broker
32. ipal advisor professional fee is charged annually to all municipal advisors registered with the MSRB The municipal advisor professional fee is not invoiced Municipal advisors are required to calculate and remit the correct amount due by multiplying 300 times the number of Form MA I filed with the SEC The transitional municipal advisor professional fee is due 10 business days after the approval of the municipal advisor s permanent registration by the SEC based on the number of Form MA I filed at the time of acceptance by the SEC The Annual Municipal Advisor Professional Fee is due by April 30 of each year based on the number of Form MA I filed with the SEC as of January 31 of the same year Please note the transitional and annual municipal advisor professional fees required by MSRB Rule A 11 are in addition to the 100 initial fee and the 500 annual Municipal Securities Rulemaking Board 46 MSRB Registration Manual for Dealers and Municipal Advisors registration fee found in MSRB Rule A 12 Refer to MSRB Notice 2014 09 for more information on municipal advisor professional fees Underwriting and Transaction Assessments MSRB Rule A 13 requires brokers dealers and municipal securities dealers to pay assessments in connection with underwriting and trading activity The amount due is calculated by the MSRB and invoiced to the registrant in an electronic invoice Payment is due within 30 days of the invoice date Payment Proces
33. ires whether as principal or agent a new issue of municipal securities from the issuer of such securities for the purpose of distributing such new issue as defined by Rule 15c2 12 f 8 Includes both negotiated and competitive underwritings Submitting to a registered clearing agency information and instructions reguired by the registered clearing agency for automated comparison of transactions as reguired by MSRB Rule G 12 Do not select if another dealer submits comparison information on your behalf Registered under SEC Rule ATS to provide a platform for bringing together purchasers and sellers of securities or for otherwise performing functions commonly performed by an exchange Has responsibility for reselling to investors variable rate demand obligations securities that have been tendered for purchase by their owner Engaged by an issuer of auction rate securities to receive orders for the auction rate securities during an auction and to submit such orders directly to the auction agent Provide customers with a written or electronic communication which includes an analysis of individual municipal securities issuers or specific sectors and regions or states Engage in other municipal securities activities that require registration with the MSRB Does not include municipal fund securities activities A description of the activity must be provided Municipal Securities Rulemaking Board 18 MSRB Registration Manual for Dealers a
34. ires the designation of certain contacts Select an existing contact from the drop down Business Activities menu or add a new contact to assign to each role ee ee Contact Information Trade Reporting Select Select Role 0 po Preview amp Submit New Contact Master Account Administrator No contact assigned Related Links Registration Guidelines MSRB Registration Manual i Gateway Manual Primary Regulatory Contact Gateway Manual No contact assigned MSRB Rule A 12 Billing Contact No contact assigned Compliance Contact No contact assigned Primary Data Quality Contact No contact assigned Continue gt In the Add New Contact form enter the contact information then click the Add button Repeat these steps to add additional contacts Add New Contact Name Jane MI Doe Mrs Title Dealer Email janedoe dealerxyz com Address Confirm Email janedoe dealerxyz com Address Address 123 Main Street City City State ST ip 12545 Phone 123 456 7890 Denotes required fields ra add Municipal Securities Rulemaking Board 24 MSRB Registration Manual for Dealers and Municipal Advisors The new contact will appear in the drop down menu Next to the contact select the role from the drop down menu then click the Assign button Reguired Contacts Optional Contacts MSRB Rule A 12 requires the designation of certain contacts Select an existing contact from the drop
35. nd Municipal Advisors From the Broker Dealer Other tab select all of the business activities engaged in by your firm Broker Dealer MFS Broker Dealer Sales Trading Broker Dealer Other Select all that apply O Underwriting Clear and settle transactions as an NSCC participant Alternate Trading System 0 Remarket VRDOs ARS Program Dealer Research Engage in other activities that require registration Continue gt Note that certain activities require additional information to be provided in the Trade Reporting section of Form A 12 For example dealers that Clear and settle transactions as an NSCC participant must provide the Participant ID assigned by the National Securities Clearing Corporation NSCC for use by your company In addition any activity that involves executing transactions in municipal securities requires the dealer to provide the effecting broker symbol EBS assigned by NASDAQ which will be used for trade reporting For more information about providing a Participant ID or EBS see the Trade Reporting section below Municipal Advisory Business Activities The business activities specific to municipal advisors are listed in the table below Advice concerning the issuance of municipal securities including without limitation advice concerning the structure timing terms and other Issuance Advice similar matters such as the preparation of feasibility studi
36. nts Existing registrants will note some features in the form that are not available to new registrants e Some data will be pre populated You may be required to re enter SEC numbers or other registration information that has been previously submitted if such information was accurately entered in the form e The form status displayed at the top of the page will say approved This is an indication that your firm is already registered and the changes being made will update the existing registration D_E E OOO Municipal Securities Rulemaking Board 39 MSRB Registration Manual for Dealers and Municipal Advisors The Contact Information section will have your existing Gateway users appear in the Select Contact drop down list You will not be reguired to create the same contact twice if that contact already exists in the drop down list If your form is immediately approved without review you will see the following page Form Update Confirmation Your form was updated successfully Return to Gateway Menu If your form is not immediately approved you have the option to return to see the pending Form A 12 previously submitted Log in to your MSRB Gateway Account and from the MSRB Gateway Main Menu expand the Registration Information Forms option and click on the Form A 12 link You will be directed to a page that indicates your form is pending Click the click here link to see a printable version of the pending form MSRB Re
37. on Category Broker Dealer Only vl Broker Dealer Only Municipal Securities Dealer Bank Dealer Municipal Advisor Onl Broker Dealer and Municipal Advisor Municipal Securities Dealer and Municipal Advisor In Step 2 click the Continue with Form A 12 button The General Firm Information screen appears Municipal Securities Rulemaking Board 9 MSRB Registration Manual for Dealers and Municipal Advisors Step 2 Complete Form A 12 Registration is not effective until Form A 12 is complete and the initial fee and annual fee have been received and processed Continue with Form A 12 Form A 12 Overview Form A 12 consists of five main sections e General Information e Business Activities e Contact Information e Trade Reporting e Preview and Submit The Trade Reporting section is only available for Broker Dealers and Municipal Securities Dealers Bank Dealers Completion Status To ensure that all sections are completed the optimal method for navigating Form A 12 is to use the Continue link located at the bottom right of the form You may also navigate directly to each section of Form A 12 by clicking on any of the links located in the list for Form A 12 sections on the right The Back link is provided to allow you to return to a prior section In the right hand column of Form A 12 a list of sections to be completed is provided Note that certain sections of the form have multiple tabs Using the navigat
38. ors Part 11 Registration and Other Fees Registration will not become effective until Form A 12 is approved and the initial registration fee and annual registration fee have been received and processed Initial Fee MSRB Rule A 12 requires new registrants to pay an initial fee of 100 The initial fee is only paid when establishing the first registration There is no fee for updating or affirming Form A 12 even in cases where the firm is adding a second organization type to an existing registration Annual Fee The annual fee is due for each MSRB fiscal year in which the municipal securities dealer or advisor is registered with the MSRB and is not pro rated The MSRB fiscal year runs from October 1 September 30 New registrations are not effective until payment of the annual fee is processed For existing registrants electronic invoices are sent in early October each year and payment is due by October 31 each year Any new registrant that pays an annual registration fee during the month of d September will have the annual registration fee for the following fiscal year waived Annual and Transitional Municipal Advisor Professional Fees MSRB Rule A 11 requires municipal advisors to pay a fee equal to 300 for each Form MA I filed with the Securities and Exchange Commission SEC Municipal advisors registered with the MSRB prior to September 30 2014 must pay a one time transitional municipal advisor professional fee After 2014 the munic
39. otification Date authority was notified Date the firm intends to begin Intended Effective Date engaging in municipal securities activities Signature of person providing notification Name title phone number and individual CRD number if applicable of individual signing the document Signatory Identification Municipal Securities Rulemaking Board 13 MSRB Registration Manual for Dealers and Municipal Advisors MSRB Registration Form A 12 General Firm Information Please complete all reguired fields Form A 12 Sections FIRM SOLE PROPRIETORSHIP IDENTIFIERS General Information Business Activities Firm Name A i Contact Information Dealer SEC ID 8 Municipal Advisor SEC ID Select One Trade Reporting CRD Number Legal Entity Identifier WRITTEN NOTICE TO FINRA OR BANK REGULATOR FED OCC OR FDIC AS APPLICABLE Related Links Upload a Document PDF Browse Upload Reaistration Guidelines MSRB Registration Manual BUSINESS INFORMATION Gateway Manual MSRB Rule A 12 Firm Address City Firm Website TYPE OF ORGANIZATION Choose the appropriate organization type from the list provided and indicate the city and state in which it is organized incorporated or established Organization Type Select One x City State Denotes required fields Back Continue gt Save Progress Exit x To register as a Municipal Advisor select the appropriate prefix from the Municipal Ad
40. quirements for Municipal Rule Proposals Advisors See MSRB reguests for Monday March 17 2014 comment and read comments received MSRB to Consolidate Key Fair Dealing Obligations for Municipal Securities Dealers Wednesday March 12 2014 State and Local Goverments MSRB to Implement Streamlined Registration Process for Municipal Securities f Dealers and Municipal Advisors MSRB Glossary Thursday February 27 2014 View a glossary of municipal securities 7 i MSRB Publishes Updated Fact Book on the 3 7 Trillion Municipal Market terms Municipal Advisors Wednesday February 26 2014 Municipal Securities Dealers MSRB Proposes Supervision Rule for Municipal Advisors Tuesday February 25 2014 Municipal Securities Rulemaking Board 7 MSRB Registration Manual for Dealers and Municipal Advisors Select the Dealers and Municipal Advisors option and click Next Welcome to MSRB Online Registration and Organization Account Set up If you already have an MSRB account dick here to log in If you need to establish an MSRB account please select the applicable option from the list below Issuers and Obligated Persons Create an organization account to Submit all type of continuing disclosure and primary market filings to EMMA Shared access by multiple users allows the organization to better manage the disclosure filings Create an individual user account to o Immediately make continuing disclosu
41. ration category is highlighted in Current Registration field To change your registration category click the Make Change to Registration link MSRB Registration Form A 12 Update or Affirm Form A 12 Access your organization s existing form data to add or update registration information Proceed to Form A 12 Review Current Form A 12 Information Before updating or affirming your Form A 12 you may wish to view your organization s existing form data to share and validate current information View Current Form A 12 Information Withdraw Registration or Add Additonal Registration Category Registration is changed in the event a firm determines that a new registration or withdrawal of registration s with the MSRB is required Current Registration Broker Dealer and Municipal Advisor Return to Main Menu Municipal Securities Rulemaking Board 41 MSRB Registration Manual for Dealers and Municipal Advisors Select the new registration category from the drop down menu then click Continue Registration Category Registration category should only be changed in the event you have determined that a new registration as either a dealer or a municipal advisor or withdraw of either or both registrations is reguired by MSRB Rule A 12 All other changes should be made in the following Form pages Broker Dealer Only Broker Dealer Only Municipal Securities Dealer Bank Dealer Municipal Advisor Only Broker Dealer and Muni
42. re filings to EMMA No other EMMA filings can be made with an individual user account but the account can later be upgraded to an organization account Dealers and Municipal Advisors Register as a broker dealer municipal securities dealer or municipal advisor Your organization must already be registered with the SEC and the appropriate enforcement agency e g FINRA or a bank regulatory agency Agents Create an account to make submissions on behalf of designating organizations Create this account if you are not an issuer obligated person dealer or municipal advisor Read the complete Registration Guidelines then click the Continue with Registration button to continue to Form A 12 MSRB Registration Form A 12 Guidelines MSRB Registration Welcome to MSRB online registration for brokers dealers municipal securities dealers collectively dealers and municipal advisors If you are registering as a new dealer or municipal advisor please read the MSRB Registration Manual which provides instructions for submitting Form A 12 and additional information about the requirements under MSRB Rule A 12 The MSRB makes available a registration checklist as a tool to assist individuals who are preparing to submit Form A 12 Review the checklist prior to accessing the form to ensure that all the required information is available for input If you are already registered with the MSRB as a dealer and want to add a municipal a
43. re that the information being disseminated by RTRS is as accurate and timely as possible Choose all that apply select at least one CO Email Review trade status emails sent to the email address es identified in the Trade Reporting Identifiers section Messaging Process MT509 messages containing trade status information Note DTCC participants only C RTRS Web Review trade status information using RTRS Web Continue Municipal Securities Rulemaking Board 30 MSRB Registration Manual for Dealers and Municipal Advisors Note that if you select the Trades will be reported by another dealer acting as agent option you must provide the clearing agent s contact information using the Add Clearing Agents link option that appears when selected IDENTIFY THE MANNER IN WHICH TRANSACTIONS WILL BE REPORTED All dealers can use RTRS Web to submit or update transaction information In addition dealers may report trades through one of the submission portals made available by NSCC or employ another dealer as agent Choose all that apply 0 Report own trades using message based trade portal operated by National Securities Clearing Corporation NSCC and RTTM Web V Trades will be reported by another dealer acting as agent Add Clearing Agents O RTRS Web only Enter the Organization Name to locate a contact to be assigned as the Clearing Agent then click the Search link Assign Agents Organization Name Search Can
44. s The MSRB provides monthly electronic invoices to existing registrants that indicate the amount s of any outstanding fees or assessments with the exception of the municipal advisor professional fees Payments should be received by the MSRB within 30 days of the invoice date or late fees will be applied The MSRB accepts payment by check credit card or ACH credit Instructions for making payments can be found on the MSRB Bill Payment Information page Always reference the MSRB number assigned to your firm as well as the invoice number on any payments The MSRB number is five characters and begins with A B or K followed by four numbers e g A1234 B1234 or K1234 For questions regarding assessments fees or payment options please contact MSRB s Accounting and Finance Department at 202 838 1500 or send an email to Accounting msrb org Late Payments Registrants that fail to pay any fee assessed under MSRB Rules A 11 A 12 or A 13 shall pay a monthly late fee of 25 In addition a late fee will be charged on the overdue balance computed according to the prime rate Prime rate is the annual rate of the commercial prime rate of interest as last published in The Wall Street Journal prior to the date such charge is computed Municipal Securities Rulemaking Board 47 MSRB Registration Manual for Dealers and Municipal Advisors Part 12 Annual Affirmations MSRB Rule A 12 reguires each registrant
45. s Fhanm mb Coe 118 222 3525 Fhons 118 222 3335 Phone Email edie 7 az 129 222 3325 hoor yore horn Phone Sok Doc li 222 7535 Qptonel Regulatory Centert Opteoneal Doto Quality Coorberct Opteonel Technical Combest TRADE REPORTING DENTIFIERS Executing Broker Symbol EBS assigned by MASD AD EES Broker a Broker Error Foodheck email ASZ Yes bdo eed oboe yp ors Participant ID assigned by MODI Porlicipenl Errer Poolbe Email PETF bd G 4eekrey t org SUBMISSION AMD FEEDBACK Identify the manner in which transactions will be reported Beopert cen Irada using mamci Bees eS porte cecreicd by Meer Seowil a Zkoring Corperctiicn CMO omi RTTA wa Tredca will Be reported by one ter Sceoler ocfing co ego ATAS Web onhr Ermeil Rovic roie siete cmoka mnt te Be ome il ede cee Sofie in the Troede Reporting Scooters alin J Mesaczing Frocces PITSOD mess goo conieicing Wrede siolus infermeiicen ete STOO perticipenta y RATAS web Soviow eed saba informon using ATAS eck ACKNOWLEDGEMENT A adirnrmlis ge ict ic informs on provided in hin Porm t compet and aeeurelz Municipal Securities Rulemaking Board 34 MSRB Registration Manual for Dealers and Municipal Advisors To submit the form check the box at the bottom of the form to indicate that I acknowledge that the information provided in this form is complete and accurate The Submit button is enabled Click the Submit button to
46. select at least one O Email Review trade status emails sent to the email address es identified in the Trade Reporting Identifiers section O Messaging Process MT509 messages containing trade status information Note DTCC participants only O RTRS Web Review trade status information using RTRS Web Continue x Note that if you select the Email option you must provide an email address in the Trade Reporting Identifiers section F The RTRS Web Only and RTRS Web options require RTRS Web Rights in MSRB Gateway to be effective See the MSRB Gateway User Manual for Dealers and Municipal Advisors for instructions on how to assign user rights in MSRB Gateway Click the Continue link to complete this section A preview of the completed Form A 12 appears on the screen Municipal Securities Rulemaking Board 32 MSRB Registration Manual for Dealers and Municipal Advisors Part 6 Preview and Submit Form A 12 Once you have completed all of the sections in Form A 12 green checkmarks will appear next to each section indicating that they are completed Click the Continue link to preview the completed form and submit it to the MSRB Form A 12 Sections General Information Business Activities f f Contact Information 4 Trade Reporting a You may also click the Preview amp Submit link in the Form A 12 sections menu on the right to view the completed Form A 12 Please scroll to the end of the
47. te registration as a dealer prior to engaging in municipal securities activities e Initiate registration as a municipal advisor prior to engaging in municipal advisory activities e Update registration information within 30 days following a change to any information contained in the form e Affirm registration information during the Annual Affirmation Period e Notify the MSRB of a withdrawal of registration On a periodic basis throughout the year Form A 12 should be reviewed and updated with the most accurate and current information MSRB Rule A 12 establishes certain prerequisites to registration All municipal securities dealers and municipal advisors must obtain a Securities and Exchange Commission SEC registration number and provide such number s on Form A 12 As applicable certain registrants must also notify a registered securities association or appropriate regulatory agency of their intent Municipal Securities Rulemaking Board 5 MSRB Registration Manual for Dealers and Municipal Advisors to engage in municipal securities and or municipal advisory activities and as appropriate provide a written statement evidencing such notification on Form A 12 Registrants are encouraged to review the MSRB s checklist of information needed to complete the form prior to accessing the form to ensure that all the required information has been collected and is ready for input Municipal Securities Rulemaking Board 6 MSRB Registra
48. ties Rulemaking Board 38 MSRB Registration Manual for Dealers and Municipal Advisors MSRB Registration Form A 12 Related Links Registration Guidelines MSRB Registration Manua Access your organization s existing form data to add or update registration information Gateway Manual MSRB Rule A 12 Proceed to Form A 12 Update or Affirm Form A 12 Review Current Form A 12 Information Before updating or affirming your Form A 12 you may wish to view your organization s existing form data to share and validate current information View Current Form A 12 Information Withdraw Registration or Add Additonal Registration Category Registration is changed in the event a firm determines that a new registration or withdrawal of registration s with the MSRB is required Current Registration Broker Dealer and Municipal Advisor Withdraw or Add Registration Category Return to Main Menu amp You may print out the PDF and share it with others in your firm who may need to confirm the completeness and accuracy of the Form A 12 data Making Updates to the Form After clicking the Proceed to Form A 12 button you may begin to make changes to the form information beginning with the General Information section continuing through all sections and finishing with Preview and Submit For detailed information about how to complete each section see the full descriptions provided in the preceding sections of this manual directed toward new registra
49. tion Manual for Dealers and Municipal Advisors Part 1 Access MSRB Online Registration Form A 12 is a single consolidated online form for registrants to provide the MSRB with registration information required under MSRB Rule A 12 MSRB Gateway serves as a secure access point for all MSRB systems Dealers and municipal advisors are required to register with the MSRB via the online registration process in Gateway before an MSRB Gateway account is created Existing registrants should refer to the section below entitled Form A 12 Updates by Current Registrants for information on accessing the form New registrants may begin the registration process by going to the MSRB website at msrb org Click on the Register here link Alternatively go to Resources for Municipal Securities Dealers or Resources for Municipal Advisors and click on the Register button located on the right hand side of the page About MSRB EMMA Careers Email Updates File a Complaint Login Municipal Securities Rulemaking Board Advanced Search Municipal Bond Market Disclosures and Data Market Leadership News Events and Training Resources for a Discover EMMABG s EMMA ciectronic Munic pa Mar et Act ess New Look a Visit the EMMA Website AN Login gt to MSRB systems Don t have an account Register here lt Resources for What s New View All News a Investors MSRB Proposes Professional Qualification Re
50. u are reguired to provide a Participant ID use the table below How Your Firm Reports Trades How to Complete Participant ID A clearing firm reports trades on Leave Participant ID blank behalf of my organization My organization is self clearing and Identity the Participant ID your firm reports its own trades uses when submitting trade reports for itself My organization is self clearing but Identify only the Participant ID your some of its trades are reported by firm uses when submitting trade another firm reports for itself Do not enter the Participant ID of the other firm that reports on your behalf My organization only clears trades on Identify the Participant ID your firm behalf of other dealers uses when submitting trade reports for other firms lf Participant ID is required click the Add New Identifier link to add the Participant ID assigned to your company by NSCC Otherwise click Continue to the Submission and Feedback tab Trade Reporting Identifiers Submission and Feedback Identifiers assigned to dealers by NASDAQ and NSCC are used in the processing of trade reports in RTRS Trades cannot be reported without having a valid identifier registered with the MSRB EXECUTING BROKER SYMBOL EBS ASSIGNED BY NASDAQ No executing broker symbol EBS on record Add New Symbol PARTICIPANT ID ASSIGNED TO YOUR COMPANY BY NSCC No identifier on record Add New Identifier In the Participant Identifier form
51. user account does not have access privileges Contact MSRB Support at 202 838 1330 for assistance To enter the form click on the Proceed to Form A 12 button MSRB Registration Form A 12 Related Links Registration Guidelines MSRB Registration Manual Access your organization s existing form data to add or update registration information Gateway Manual MSRB Rule A 12 Proceed to Form A 12 Update or Affirm Form A 12 Preview Your Current Registration Information Existing registrants have the option to review the existing Form A 12 data without entering the form From the MSRB Gateway Main Menu expand the Registration Information Forms option and click on the Form A 12 link Account and Organization Management Manage profile information for your User Account or for your organization My Profile User Agent Relationship Management Invite and approve agent invitations to from organizations gt Manage Agent Relationships Manage your organization s relationships with other organizations Registrant Information Forms Submit forms to provide information about your organization Form A 12 Market Transparency Systems Access MSRB systems to submit documents and data related to municipal market activity and political contributions In the Review Current Form A 12 information section click on the View Current Form A 12 Information link A PDF version of the form will display Municipal Securi
52. ves including without limitation advice concerning their structure timing terms and other similar matters Solicitation of investment advisory business from a municipal entity or obligated person including without limitation municipal pension plans on behalf of an unaffiliated broker dealer municipal advisor or investment adviser e g third party marketers placement agents solicitors and finders Solicitation of business other than investment advisory business from a municipal entity or obligated person on behalf of an unaffiliated person or firm e g third party marketers placement agents solicitors and finders Advice or recommendations concerning the selection of other municipal advisors or underwriters with respect to municipal financial products or the issuance of municipal securities Engage in other municipal advisory activities not indicated above which require MSRB registration A description of the activity must be provided Municipal Securities Rulemaking Board 20 MSRB Registration Manual for Dealers and Municipal Advisors From the Municipal Advisor tab select all of the business activities engaged in by your firm Municipal Advisor Select all that apply J Issuance Advice _ Guaranteed Investment Contracts Advice _ Investment Advice Proceeds of Municipal Securities Investment Advice Funds of Municipal Entity Municipal Derivatives Advice Solicitation of Business
53. visor SEC ID drop down menu The SEC number provided to the MSRB on Form A 12 should be your number at the time of filing Form A 12 If your SEC number changes you are required to file an updated Form A 12 that reflects the new SEC number Once this section has been completed click the Continue link at the bottom of the form to proceed Municipal Securities Rulemaking Board 14 MSRB Registration Manual for Dealers and Municipal Advisors Part 3 Business Activities MSRB Rule A 12 reguires dealers and municipal advisors to report the business activities their firm engages in Broker Dealer MFS The business activities for municipal fund securities MFS are listed in the table below Act as an underwriter for a primary offering of 529 Plan municipal fund securities established by a state as a Underwriting qualified tuition program pursuant to Section 529 of the Internal Revenue Code Act as an underwriter for an investment pool established by a state or local governmental entity or Local Government instrumentality that serves as a vehicle for investing Investment Pool public funds of participating governmental units With Distributor Sales regard to a Local Government Investment Pool sales sales to or purchases from investors of interests in Local Government Investment Pools Engage in other municipal securities activities in Other Specify connection with municipal fund securities not indicated above A descript
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