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Should a firm selling Municipal Fund Securities review its Form BD and FOCUS filing?

April 26, 2017BD filing firm focus form fund municipal review securities Selling

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Should a firm selling Municipal Fund Securities review its Form BD and FOCUS filing?

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Yes. Members may need to amend Item 12 of their Form BD, to indicate that they are a municipal securities dealer or broker. Also, when preparing their FOCUS reports, firms may need to report income from Municipal Find Securities as income from municipal securities transactions in Schedule I.