What Are Political Contribution Disclosures?
Under its pay-to-play rules, the MSRB requires municipal securities dealers to disclose
information in connection with certain political contributions they make to governmental
issuer officials, state and local political parties, and bond ballot referendum committees.
Accessing Political Contribution Disclosures
What Information Does a Political Contribution Disclosure Provide?
Quarterly reports on Form G-37 submitted by municipal securities dealers disclose certain contributions
to issuer officials, payments made to political parties of states or political subdivisions, and
contributions made to bond ballot campaigns by the dealers’ municipal finance professionals and executive
officers, and by political action committees controlled by the dealer or its municipal finance professionals.
Dealers must also report issuers with which they have engaged in municipal securities business.
A limited number of dealers also have submitted quarterly reports on Form G-38t that include information
about transitional payments solely for past services provided by consultants, including compensation
arrangements, municipal securities business obtained, payments pending, and reportable political contributions
and political party payments.