Municipal and Government Securities Dealers

A national bank or federal savings association may choose to register as either a municipal securities dealer or a government securities dealer or both. Generally, bank dealer activities include underwriting, dealing in, and trading with or on behalf of customers. Registered bank dealer activities expose the bank to significant compliance and reputation risk. These activities also expose the bank to transaction risk from securities processing, credit risk from issuers or counterparties, and price risk from maintaining a securities inventory.

Forms

• Form G-FIN - Notice of Government Securities Broker or Government Securities Dealer Activities (PDF)
• Form G-FIN-4 - Disclosure Form for Person Associated with a Financial Institution Government Securities Broker or Dealer (PDF)
• Form G-FIN-5 - Uniform Termination Notice for Person Associated with a Financial Institution Government Securities Broker or Dealer (PDF)
• Form G-FINW - Notice by a Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer (PDF)
• Form MSD - Application for Registration as a Municipal Securities Dealer Pursuant to Rule 15Ba2-1 Under the Securities Exchange Act of 1934 or Amendment to such Application (PDF)
• Form MSD-4 - Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer (PDF)
• Form MSD-5 - Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer (PDF)
• Form MSDW - Notice of Withdrawal From Registration as a Municipal Securities Dealer Pursuant to Rule 15Bc3-1 (17 CFR 240.15Bc3-1) (PDF)
  

Learn More

• Municipal Securities Rulemaking Board Rules (Comptroller's Handbook, July 2014)
• Government Securities Act (Comptroller's Handbook, January 2015)
• OCC Bulletin 2015-5, Government Securities Act