ComplianceOnline

Political Contributions and Prohibitions on the Municipal Securities Business

Instructor: Kimberly McManus
Product ID: 702798
Training Level: Intermediate to Advanced
  • Duration: 60 Min

recorded version

$149.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section

Training CD

$199.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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Read Frequently Asked Questions

This municipal securities compliance training will clearly explain the MSRB (Municipal Securities Rulemaking Board) Rule-37, discuss the key elements of political contribution restrictions and prohibitions on the municipal securities business, disclosure requirements, violations and how to prevent them.

Why Should You Attend:

The Municipal Securities Rulemaking Board (MSRB) Rule G-37 was enacted to ensure the standards and integrity of the municipal securities industry are maintained and to detect and prevent fraudulent activities and violations. The rule's complexities have caused several firms to violate its requirements, resulting in bans in negotiated and/or financial advisory business as well as payments of very large fines.

This training module draws on the expertise of veteran municipal securities compliance officers with over 40 years combined regulatory experience. In addition to discussing in detail, the elements of political contribution restrictions and prohibitions on the municipal securities business, this course will use real-world case studies to enhance your understanding of the material that can be immediately applied in the workplace. Attendees will learn the disclosure requirements for political contributions in the municipal securities business. The course will also discuss how a ban on the municipal securities business works if a political contribution violation occurs.

This training goes beyond reading the written rules and regulations from the manual. At the end of the session, a learning assessment will be conducted and our instructor will address attendees’ questions related to MSRB rule-37.

Areas Covered in the Seminar:
  • Political contribution restrictions.
  • How a BAN on the municipal securities business works if a political contribution violation occurs.
  • What individuals are covered and require compliance with MSRB Rule G-37.
  • Regulatory guidelines on immunogenicity of biologics; FDA, ICH, CHMP, EMEA.
  • Prohibition on soliciting and coordinating/bundling political contributions.
  • Prohibited from circumvention the Rule.
  • Indirect contribution.
  • Political party payments.
  • Disclosure requirements on political contribution and municipal securities business activities.
  • Real-world case studies.

Who Will Benefit:

  • Investment banks/capital markets chief executive officers
  • Investment firm municipal underwriters, public finance bankers, municipal traders, and/or municipal institutional sales
  • Supervisors of investment firm municipal underwriters, public finance bankers, municipal traders and/or municipal institutional sales
  • General bank relationship managers ("RM's") bankers/government bankers who solicit municipal securities business
  • Supervisors of general bank relationship manager bankers/government bankers who solicit municipal securities business
  • Retail brokers who solicit municipal securities business
  • Supervisors of retail brokers who solicit municipal securities business
  • Regulatory compliance officers
  • Risk officers
  • Internal auditors
  • Risk managers

Instructor Profile:

Kimberly McManus, is currently President of Alternative Regulatory Solutions, LLC (ARS), a compliance consulting firm she founded in July 2009 that has created unique training modules for specific MSRB Rules. Ms. McManus has extensive experience in fixed income compliance, with expertise in the municipal market. In her latest role as Managing Director of Municipal Compliance with Wachovia Corporation, she was responsible for assessing and managing regulatory risk for public finance/government banking, bond trading and syndicate, sales (both institutional and retail), operations, and derivative/structured products within the Municipal Products Group. Ms. McManus was extremely instrumental in regulatory exams, inquires and investigations with the IRS, SEC, OCC, DOJ, FINRA and States Attorney General Offices.

Topic Background:

The MSRB Rule G-37 promotes the equitable principles of trade and ensures a perfect free and open market and protects investors and the public interest.

MSRB Rule G-37 works on the following principles:

  • Prohibiting brokers, dealers and municipal securities dealers from engaging in municipal securities business with issuers of municipal debt if certain political contributions have been made to officials of such issuers of municipal debt; and
  • Requiring brokers, dealers and municipal securities dealers to disclose certain political contributions, as well as other information, to allow public scrutiny of political contributions and the municipal securities business of a broker, dealer or municipal securities dealer.
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