SIFMA has produced templates of documents and instructions to help brokers, traders and other financial institutions serve their clients and meet the new regulatory requirements created by the SEC`s Municipal Advisor Rule. The SEC`s Municipal Councillors Rule imposes a registration regime on city councillors, i.e. businesses that do not grant exemptions or exclusions from municipal agencies and obligated persons, and imposes a trust obligation on municipal councillors who advise municipalities. The MSRB regime will impose additional requirements and prohibitions on the behaviour of municipal councillors. On May 2, 2017, SIFMA released price modelling documents for municipal guarantees to help industry market participants comply with the Ministry of Finance`s municipal securities price rules, which came into effect on June 7, 2017. A bond purchase agreement (EPS) is a contract that contains certain clauses that are executed on the day of the valuation of the new bond issue. The terms and conditions of a BPA include a joint release of the trade association in agreement with The Depository Trust Company (DTCC). The joint recommendations provide practical advice to issuers, their advisors, nomine holders and issuer agents on how to obtain messages about defaults during the book entry bond period. They provide procedures for monitoring the disclosure process by the issuer and make recommendations on the form of notices, the payment of reasonable costs by the issuer and the provision by the issuer of broadcast notifications on the channel of the nomine licensees. Agreements on model investment agent commitment contracts for management and non-conducted obligations. These two new agreements are intended for municipal brokers, dealers and stockbrokers who act as brokers.

Good practice for municipal title insurers in providing new emissions information to the Deposit and Clearing Corporation`s (DTCC) Information and Disclosure Service. The terms of the senior bond, highlighted in the collection method, include the maturity date of the loan, the face value, the interest payment plan and the purpose of the bond issue.