The Municipal Securities Rulemaking Board floated proposals Wednesday to ban false and misleading advertising by municipal advisors and require them to create written records of their advisory engagements.

In a six-page notice posted on the MSRB’s website, the board asked for public comments on draft amendments to Rule G-21 on advertising and a draft interpretive notice for Rule G-17 on fair dealing, setting a Sept. 14 deadline. Together, the proposed amendments and notice would bar municipal advisors from disseminating false or misleading ads about municipal securities, municipal financial products and third-party services.

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