What is a Registered Municipal Advisor?
A Registered Municipal Advisor is one who gives advice to a municipal entity regarding municipal financial products or the issuance of municipal securities. The Municipal Securities Rulemaking Board (M.S.R.B.) defines a Registered Municipal Advisor as follows:
“A person or entity (with certain exceptions) that (a) provides advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues, or (b) solicits a municipal entity, for compensation, on behalf of an unaffiliated municipal securities dealer, municipal advisor, or investment adviser to engage such party in connection with municipal financial products, the issuance of municipal securities, or investment advisory services.”
To learn more about the M.S.R.B. rules in place to protect municipal entities or obligated persons, a Municipal Advisory Client Brochure is available on-line from the M.S.R.B.
“A person or entity (with certain exceptions) that (a) provides advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues, or (b) solicits a municipal entity, for compensation, on behalf of an unaffiliated municipal securities dealer, municipal advisor, or investment adviser to engage such party in connection with municipal financial products, the issuance of municipal securities, or investment advisory services.”
To learn more about the M.S.R.B. rules in place to protect municipal entities or obligated persons, a Municipal Advisory Client Brochure is available on-line from the M.S.R.B.
Click here to access current MSRB Rules
The Economic Development Group, Ltd.
is a Registered Municipal Advisor
The U.S. Securities and Exchange Commission’s (S.E.C.) final municipal advisor registration and record-keeping Rules became effective on July 1, 2014. Firms that are engaged in, or plan to be engaged in, municipal advisory activities must be registered with both the S.E.C. and the Municipal Securities Rulemaking Board (M.S.R.B.).
On August 5, 2015, the S.E.C. executed an order granting registration to The Economic Development Group, Ltd. (S.E.C. Reg. No. 866-01676-00) pursuant to Section 15B(a)(2) of the Securities Exchange Act of 1934. On September 9, 2015, The Economic Development Group, Ltd. registered with the Municipal Securities Rulemaking Board (M.S.R.B. ID No. K1117) as a Registered Municipal Advisor for the purpose of providing advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues. As a Registered Municipal Advisor, EDG may also undertake marketing efforts to solicit a municipal entity for the purpose of designating EDG as a Registered Municipal Advisor for the issuance of a municipal security, or as an Independent Registered Municipal Advisor ("IRMA") to provide facts and information relating to the issuance of other types of debt obligations.
The Economic Development Group, Ltd. currently has two Registered Municipal Advisor Principals: Steve Kline, President/CEO; and Gwen Crawford, Vice President.
On August 5, 2015, the S.E.C. executed an order granting registration to The Economic Development Group, Ltd. (S.E.C. Reg. No. 866-01676-00) pursuant to Section 15B(a)(2) of the Securities Exchange Act of 1934. On September 9, 2015, The Economic Development Group, Ltd. registered with the Municipal Securities Rulemaking Board (M.S.R.B. ID No. K1117) as a Registered Municipal Advisor for the purpose of providing advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues. As a Registered Municipal Advisor, EDG may also undertake marketing efforts to solicit a municipal entity for the purpose of designating EDG as a Registered Municipal Advisor for the issuance of a municipal security, or as an Independent Registered Municipal Advisor ("IRMA") to provide facts and information relating to the issuance of other types of debt obligations.
The Economic Development Group, Ltd. currently has two Registered Municipal Advisor Principals: Steve Kline, President/CEO; and Gwen Crawford, Vice President.
Types of Municipal Advisory Services Offered by EDG
Examples of the types of activities that The Economic Development Group, Ltd., would undertake as a Registered Municipal Advisor, or as an Independent Registered Municipal Advisor, include the following:
- Acts in a fiduciary capacity for the municipality
- Assists in developing the plan of finance and related transaction timetable
- Identifies and analyzes financing solutions and alternatives for funding capital improvement plan
- Advises on the method of sale, taking into account market conditions and near-term activity in the
municipal market - Assists in preparation of any rating agency strategies and presentations
- Coordinates internal/external accountants, feasibility consultants and escrow agents
- Assists with the selection of underwriters, underwriter compensation issues, syndicate structure and
bond allocations - Prepares preliminary cash flows/preliminary refunding analysis
- Verifies cash flow calculations
- Plans and coordinates bond closings
For more information about Registered Municipal Advisory Services
that are available from The Economic Development Group Ltd. please contact our Bloomington office.
that are available from The Economic Development Group Ltd. please contact our Bloomington office.