Product-Specific Disclosures: Municipal Securities, Government Securities, and CMOs

What this video covers

• The MSRB municipal-advertising rule: written approval by a municipal securities principal or general securities principal prior to first use, plus the separate-file recordkeeping requirement
• The "knew or should have known" false-or-misleading standard and why ignorance is not a defense
• The official statement as the municipal equivalent of a prospectus, and the exam penalty for confusing the two terms
• Why CMO retail communications must spell out "Collateralized Mortgage Obligation" in full and cannot abbreviate the product name
• The absolute prohibition on comparing CMOs to bank certificates of deposit (CDs) or any other investment
• The identification block and prepayment-disclaimer block requirements for specific CMO promotions, including equal prominence in type size
• The additional yield-figure checklist: sales charge inclusion, prior-sale and price-change statement, and accrual-bond identification
• The pre-sale educational-material offer for non-institutional investors: what must be covered, the offer-versus-deliver distinction, and the institutional-investor exemption
• The exact mandatory broadcast script and oral prepayment disclosure for television and radio advertisements