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Person Associated With a Municipal Securities Dealer
Understanding the Role of a Person Associated With a Municipal Securities Dealer
Definition & Meaning
The term "person associated with a municipal securities dealer" refers to individuals who are involved in the management, direction, supervision, or execution of activities related to municipal securities within a municipal securities dealer, particularly if that dealer is a bank or part of a bank. This includes anyone who directly engages in these activities or has a controlling relationship with the dealer regarding these activities.
Table of content
Legal Use & context
This term is primarily used in the context of financial regulation and securities law, particularly under the Securities Exchange Act. It is relevant for understanding who is subject to regulatory oversight and compliance requirements in the municipal securities market. Legal professionals may encounter this term when dealing with issues related to securities transactions, compliance, and regulatory reporting.
Users can manage certain related processes themselves using legal templates available through US Legal Forms, which can help in drafting necessary documents or understanding compliance requirements.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, a bank employee who oversees the issuance of municipal bonds would be considered a person associated with a municipal securities dealer. Another example could be a financial officer who manages the bank's municipal securities portfolio. (hypothetical example)
Relevant laws & statutes
The primary legal reference for this term is found in the Securities Exchange Act of 1934, specifically under 15 USCS § 78c. This statute outlines the definitions and regulatory framework for municipal securities dealers.
Comparison with related terms
Term
Definition
Key Differences
Municipal Securities Dealer
A firm or entity that buys and sells municipal securities.
This term refers to the entity, while "person associated" refers to individuals within that entity.
Registered Representative
An individual authorized to act on behalf of a broker-dealer.
Registered representatives may not be specifically involved with municipal securities.
Common misunderstandings
What to do if this term applies to you
If you believe this term applies to your situation, consider reviewing your role and responsibilities within the municipal securities dealer. It may be beneficial to consult with a legal professional to ensure compliance with relevant regulations.
Additionally, users can explore US Legal Forms for templates that may assist in documenting roles or compliance matters effectively.
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