MSRB Rule G-37 (pay-to-play) restricts municipal securities dealers from doing business with a government entity for how long after making a prohibited political contribution?

Why C — Two years

MSRB Rule G-37 is designed to prevent pay-to-play practices in the municipal securities market. If a municipal securities dealer or its covered associates make political contributions exceeding the de minimis amount ($250 to officials for whom they can vote) to an issuer official, the dealer is banned from engaging in municipal securities business with that issuer for two years. This two-year ban is sometimes called the 'cooling off' period and is designed to sever the connection between political contributions and the awarding of municipal securities business.