--- title: MSRB Seeks to Change Gift Rules description: MSRB Seeks to Change Gift Rules image: https://resources.jackolg.com/hs-fs/file-3921204652-jpg/blog-files/imagesacviah4g.jpg --- [![Jacko Law Group, PC - Securities Law](https://resources.jackolg.com/hubfs/Jackolawgroup%20February2018/image/brand.png)](http://www.jackolg.com/) Call Today for a Consultation San Diego 619-298-2880 San Francisco 415-766-3599 Los Angeles 213-631-2549 Menu [Contact](http://www.jackolg.com/Contact.shtml) - [Home](http://www.jackolg.com/) - [Firm Overview](http://www.jackolg.com/Firm-Overview/) - [Professionals](http://www.jackolg.com/Professionals/) - [Events](http://www.jackolg.com/Events.shtml) - [News](http://www.jackolg.com/News-Room/) - [Blog](http://www.jackolg.com/blog/) - [Videos](http://www.jackolg.com/Videos.shtml) - [Contact](http://www.jackolg.com/Contact.shtml) # Understand. Define. Achieve. 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View Our Practice Areas - [SEC/FINRA Regulatory Counsel](http://www.jackolg.com/Regulatory-Examinations-and-Inquiries-SEC-and-FINRA/) - [Private Equity & Hedge Fund Counsel](http://www.jackolg.com/Private-Equity-Counsel/) - [Investment Adviser Services](http://www.jackolg.com/Legal-Considerations-for-Breaking-Away/Investment-Adviser-Counsel.shtml) - [Breakaways And Transitions](http://www.jackolg.com/Legal-Considerations-for-Breaking-Away/) - [General Corporate Counsel](http://www.jackolg.com/Corporate-Counsel/) - [Broker- Dealer Counsel](http://www.jackolg.com/Broker-Dealer-Counsel/) #### News - [Legal Tips](http://www.jackolg.com/News-Room/) - [Publications](http://www.jackolg.com/News-Room/Publications.shtml) - [Blog](http://www.jackolg.com/blog/) # Jacko Law Group Blog # MSRB Seeks to Change Gift Rules [![imagesACVIAH4G](https://resources.jackolg.com/hs-fs/file-3921204652-jpg/blog-files/imagesacviah4g.jpg?width=275&height=183&name=imagesacviah4g.jpg)](https://resources.jackolg.com/hs-fs/file-3921204652-jpg/blog-files/imagesacviah4g.jpg)The [Municipal Securities Rulemaking Board](http://www.msrb.org/) (“MSRB”) is seeking [The Securities and Exchange Commission’s](http://www.sec.gov/) (“SEC”) approval to apply business-related gift-giving limitations to its municipal advisors. According to an MSRB [press release](http://www.msrb.org/News-and-Events/Press-Releases/2015/MSRB-Seeks-Approval-to-Apply-its-Gifts-Rule-to-Municipal-Advisors.aspx), the goal of the [proposed rule change](http://www.msrb.org/~/media/Files/SEC-Filings/2015/MSRB-2015-09.ashx?la=en) to [MSRB Rule G-20](http://www.msrb.org/Rules-and-Interpretations/MSRB-Rules/General/Rule-G-20.aspx) is to apply the same rules that apply to municipal securities dealers to municipal advisors and their associated persons. It is anticipated the amendments will address potential conflicts of interest created by gift-giving or gratuities connected to municipal advisory activities. “[Amending the MSRB’s existing gifts rule would ensure common standards for dealers and municipal advisors that all operate in the municipal securities market](http://www.msrb.org/News-and-Events/Press-Releases/2015/MSRB-Seeks-Approval-to-Apply-its-Gifts-Rule-to-Municipal-Advisors.aspx),” said MSRB Executive Director Lynnette Kelly. Additional amendments to the rule would include prohibitions on reimbursement of certain expenses by dealers and advisors from the proceeds of an offering of municipal securities. Since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) the MSRB has been tasked with developing a “comprehensive regulatory framework” for municipal advisors. For a listing of all the current rules in development as a result of Dodd-Frank please click [here.](http://www.msrb.org/MSRB-For/Municipal-Advisors/News-and-Resources.aspx) For interpretive guidance with respect to the proposed rule change or any other MSRB rules and how it may affect your business please contact Jacko Law Group, PC (“JLG”) for assistance. 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