Revised Master Selected Dealer Agreement (MSDA) - updated June 10, 2011
An agreement governing the terms by which a dealer may purchase as principal a portion of a security. For use with both registered SEC offerings and exempt offerings, other than offerings of municipal securities.
This master was last updated on May 17, 2011 to comply with FINRA Rule 5131.
Revised Master Agreement Among Underwriters (MAAU) - updated June 2, 2014
An agreement setting forth the legal relationships between syndicate members and permitting the efficient execution of one standardized agreement rather than the execution of separately negotiated legal contracts each and every time a firm joins a syndicate. For use with both registered SEC offerings and exempt offerings, other than offerings of municipal securities.
This master was last updated on June 2, 2014 to incorporate changes related to FATCA, to incorporate a trial by jury waiver and to make other minor edits and corrections:
Additional Forms and Documents
Broker or Dealer Special Omnibus Account Agreement (Form 11)
An agreement to carry an omnibus account as required by Regulation T, a regulation issued by the Board of Governors of the Federal Reserve System that governs customer cash accounts and the extension of credit by broker-dealers to customers to purchase and carry securities.
Commercial Paper Dealer Agreements
Model dealer agreements for commercial paper and guaranteed commercial paper issued pursuant to Sections 4(2) and 3(a)(3) of the Securities Act of 1933.
Guaranteed Commercial Paper Dealer Agreements
Two sets of model dealer agreements developed for guaranteed commercial paper issued pursuant to Sections 4(2) and 3(a)(3) of the Securities Act, respectively, designed to be used where one or more corporate guarantors are also responsible for the payment of principal and interest on the notes. The model agreements also contain a standard form of guarantee and model opinions of counsel to a guarantor.
Guaranteed Commercial Paper Dealer Agreement 3(a)(3) Program
Guaranteed Commercial Paper Dealer Agreement 3(a)(3) Program - Guidance Notes
Guaranteed Commercial Paper Dealer Agreement 4(2) Program
Guaranteed Commercial Paper Dealer Agreement 4(2) Program - Guidance Notes
Money Market Trading Practice Guidelines (Amended and Restated)
Non-binding guidelines designed to further the efficient trading of money market instruments.
Practice Guidelines for Trading in Distressed Bonds
Designed to establish common standards of practice for the trading, clearance, and settlement of distressed bonds. The guidelines provide a framework for standardization while preserving the flexibility needed to negotiate the specific terms of different transactions.
Procedures, Covenants, and Remedies in Light of Revised Rule 144
SIFMA Guidance on procedures that can be used in lieu of traditional registration rights to accommodate a shortened holding period for restricted securities.
Statement of Objectives Regarding the Preparation and Distribution of Pricing Term Sheets
A statement of objectives intended to serve as a reminder of the importance of finalizing and distributing pricing term sheets in order to ensure prompt commencement of trading of securities by the syndicate.
