Series 54: 2.2.2.4. Documentation Of Municipal Advisory Relationship

2.2.2.4. Documentation of Municipal Advisory Relationship

A non-solicitor municipal advisor’s relationships with municipal entity and obligated person clients must be put in writing “prior to, upon or promptly after” the municipal advisory relationship begins. The document must include:

• The date the relationship began

• Information about the municipal advisor’s compensation

• The advisor’s conflicts of interest

• An explanation of the legal and disciplinary information that the SEC requires municipal advisors to provide, as well as an explanation of how the client can access this information on the municipal advisor’s Form MA and most recent Form MA-I

• The date of the municipal advisor’s most recen