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Political Contributions and Prohibitions on the Municipal Securities Business
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
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.
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.
ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.
Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.
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MSRB Rule G-14: Reports of Sales or Purchases (RTTR) and FINRA Rule 6700: Trade Reporting and Compliance Engine (TRACE)