53 & ME
This type of client or prospect outreach, reviewed by a 53, requires a disclosure template with an MA exemption.
What is a Pitch Book
This MSRB rule requires dealers and municipal advisors to deal fairly with all persons and not to engage in any deceptive, dishonest or unfair practice.
What is G-17
Credit Committee must approve a transaction before this is distributed
What is a POS
Type of municipal debt backed by the 'full faith and credit' of a state or local government
What is 'GO'
This form requires review by Legal prior to executing
What is a Bond Purchase Agreement
A time-sensitive and targeted response, this work product cannot be approved by a 53 without both a G-17 and the additional disclosure template.
What is an RFP of RFQ
Violating this MSRB rule could result in a two-year ban on municipal securities business
What is G-37
A co-managed transaction with less than $100M in liability, with a repeat client, without complex structure or disclosure and filing issues qualifies for this
What is a waiver
This proprietary database houses descriptive data and uploaded documentation for co-managed, senior-managed and sole-managed transactions
What is 'CHIEF'
This must be submitted for approval prior to initiating contact with any government entity
What is a Soliciting Government Entity form
A 53 looks for uniformity and 'Internal Use Only' in this marketing piece
What is a Sales Memo
Within two business days following the date of sale, this MSRB rule mandates written disclosure to syndicate members and issuer, a summary of allocations of securities which are accorded priority over members' take-down orders, including any allocation to an order confirmed at a price other than the original list price.
What is G-11
For transactions involving a non-government entity, you will need this background check approved prior to the Credit Committee meeting
What is an AML
One of four MA Exemptions, often documented online by an issuer
What is 'IRMA'
Must be submitted within a month or else...
What is a Travel & Expense form
Everything in the presentation, reviewed by both a 53 and underwriter's counsel must come directly from the offering document, be citable, and cannot use superlatives.
What is an Investor Presentation
To evidence compliance with this MSRB rule, a document is uploaded to CHIEF providing the date and time the POS/OS were submitted to EMMA, and confirmation that the issuer has agreed to make continuing disclosures
What is G-32
This committee review occurs less often; its purpose is to approve non-rated transactions for engagement
What is Commitment Committee
Provided by the MSRB, the official source for municipal securities data and documents
What is 'EMMA'
This form is necessary for vetting activities (investments) that might be in conflict with the business and objectives of the Firm
What is the Outside Business Activity (Investment) form
Oppenheimer Public Finance has this many supervisors with a 53
What is 8
This MSRB rule protects against improprieties and conflicts of interest that may arise when regulated entities give gifts or gratuities in relation to the municipal securities activities of the recipients’ employers.
What is G-20
For those with whom we are conducting municipal securities business, it's essential to search for, and report to Credit Committee, any news of this type.
What is Negative
This type of storage ensures data immutability for compliance, making records tamper-proof for regulatory bodies like SEC and FINRA
What is 'WORM'
Individuals disclose key personal details, employment history, disciplinary actions, and regulatory events that may affect their eligibility to operate in the industry.
What is a U4