Municipal Securities Act

[AI summary unavailable — showing source text] Municipal Securities Act - Defines, under the Securities Exchange Act, specified terms relating to municipal securities. Provides that no municipal securities dealer (other than one registered as a broker or dealer under this Act) shall make use of the mails or of interstate commerce to effect any transaction in any municipal security unless such dealer is registered in accordance with this Act. Prescribes the procedure for such registration and circumstances under which registration shall be denied, revoked, or suspended. Provides that any association of municipal securities dealers may be registered with the Commission as a national association of municipal securities dealers by filing with the Commission a registration statement. Sets forth the information reguired in such statement and the conditions under which registration will be permitted. States that if any national association of municipal securities dealers takes final disciplinary action against any member thereof or denies admission to any person the association shall promptly file a notice with the Commission. Specifies the form of such notice. Outlines the proceedings for review by the Commission of any such discipli…