A bank municipal securities dealer has 30 employees in its municipal securities operation. How many municipal securities principals must it have?
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A. B. C. D.D
The question refers to the number of municipal securities principals that a bank municipal securities dealer with 30 employees in its municipal securities operation must have. To understand the answer, we need to first understand what a municipal securities principal is.
A municipal securities principal is an individual who is responsible for supervising the activities of a municipal securities dealer or municipal securities representative. A municipal securities dealer is any person or entity engaged in the business of buying or selling municipal securities for its own account or for the account of others.
According to the Municipal Securities Rulemaking Board (MSRB), a municipal securities dealer must have at least one municipal securities principal. The MSRB is a self-regulatory organization that writes and enforces rules for dealers of municipal securities.
Therefore, the correct answer to the question is A. At least one municipal securities principal.
It is worth noting that while the MSRB requires at least one municipal securities principal, some banks may choose to have more than one principal to ensure proper supervision and compliance with regulations. However, the question only asks for the minimum requirement, which is at least one.