SIE practice questioneasyMunicipal Bonds - Exemptions
Municipal bonds are typically exempt from:
- AReporting price and volume to EMMA
- BMSRB rules
- CSEC antifraud provisions
- DSecurities Act of 1933 registration requirements✓ Correct answer
Explanation
Why D — Securities Act of 1933 registration requirements
Municipal bonds are specifically exempt from registration under the Securities Act of 1933, but are still subject to antifraud rules (SEC) and MSRB regulation. Prices and trades must be reported to EMMA.
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