A form that a bank, or a specific division or department of a bank, must complete and file with the Securities and Exchange Commission (SEC) in order to apply for registration as a municipal securities dealer (MSD). SEC form MSD is also used to make any amendments to a current MSD registration.


The provisions for municipal securities dealers are covered under section 15b(a) of the Securities Exchange Act of 1934.

In addition, form MSD requires a firm to reveal if any staff person working with its municipal securities division has been involved in disciplinary proceedings related to the sale of securities.

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