Municipal Securities Rulemaking Board (MSRB) Regulatory Disclosures
G-42 Regulatory Disclosures
Pursuant to Municipal Securities Rulemaking Board (“MSRB”) Rule G-42, Mohanty Gargiulo LLC is required to make certain written disclosures to its municipal advisory clients which include, amongst other things, information regarding conflicts of interest and any legal or disciplinary events of Mohanty Gargiulo LLC and its associated persons. Therefore, Mohanty Gargiulo LLC is making the following disclosures.
Conflicts of Interest
Mohanty Gargiulo LLC represents that in connection with the issuance of municipal financial product transactions, Mohanty Gargiulo LLC may receive compensation from a client for services rendered, which compensation is contingent upon the successful closing of a transaction and/or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, Mohanty Gargiulo LLC hereby discloses that such contingent and/or transactional compensation may present a potential conflict of interest regarding Mohanty Gargiulo LLC’s ability to provide unbiased advice because it could create an incentive for Mohanty Gargiulo LLC to advise its client to complete a financing or to alter the structure of a financing in order to ensure or increase its compensation. This conflict of interest is mitigated by our fiduciary duty to our municipal entity clients and by our duty of care for other municipal advisory clients.
If Mohanty Gargiulo LLC becomes aware of any additional potential or actual conflict of interest after this disclosure, Mohanty Gargiulo LLC will promptly update this disclosure.
Legal or Disciplinary Events
Mohanty Gargiulo LLC does not have any legal events or disciplinary history on Mohanty Gargiulo LLC’s Form MA and Form MA-I, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations and civil litigation. The Issuer may electronically access Mohanty Gargiulo LLC’s most recent Form MA and each most recent Form MA-I filed with the Commission by searching for “Mohanty Gargiulo” at the following website: www.sec.gov/edgar/searchedgar/companysearch.html
There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-I filed with the SEC. If any legal or regulatory action is brought against Mohanty Gargiulo LLC that is material to our clients’ evaluation of Mohanty Gargiulo LLC or the integrity of Mohanty Gargiulo LLC’s management or advisory personnel, Mohanty Gargiulo LLC will promptly update this disclosure.
Pursuant to Municipal Securities Rulemaking Board Rule G-10, on Investor and Municipal Advisory Client Education and Protection, Municipal Advisors are required to provide certain written information to their municipal entity and obligated person clients which include the following:
- MG is currently registered as a Municipal Advisor with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board.
- Within the Municipal Securities Rulemaking Board (“MSRB”) website at www.msrb.org, the Issuer may obtain the Municipal Advisory client brochure that is posted on the MSRB website. The brochure describes the protections that may be provided by the MSRB Rules along with how to file a complaint with financial regulatory authorities.
Effective July 1, 2014, pursuant to the Securities and Exchange Commission (SEC) record retention regulations, MG is required to maintain in writing, all communication and created documents between MG and the Issuer for 5 years.
Mohanty Gargiulo LLC is registered as a Municipal Advisor with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board, as well as a Commodity Trading Advisor with the Commodity Futures Trading Commission. We are also a certified Minority and Women-Owned Business Enterprise.