Agmt15 William Euphrat Municipal Finance, Inc.

Browse Search

municipal �nancial product that might also or altematively serve the clienYs objectives. Under the MSRB regulations, a municipal advisor is prohibited from: i. receiving compensation that is excessive in relation to the municipal advisory activities actually perFormed; ii. delivering an invoice for fees or expenses for municipal advisory activities that does not accurately reflect the activities actually performed or the personnel that actually performed those services; iii. making any representation or submitting any information abaut the capacity, resources or knowledge of the municipal advisor, in response ta requests for proposals or qualifications or in aral presentations to a client or prospective client, for the purpose of obtaining or retaining municipal advisory business that the advisor knows or should know is materially false or misleading; iv. making, ar participating in, any fee-splitting arrangements with underwriters, and any undisclosed fee-splitting arrangements with providers of investments or services to a municipal entity or obligated person client of the municipal advisor; and v. making payments for the purpose of obtaining or retaining municipal advisory business other than reasonable fees paid to anvther municipal advisor registered as such with the Securities and Exchange Commission and fihe Municipal Securities Rulemaking Board for a solicitation of a municipal entity or obligated person as described in Section 15B(e)(9) of the Securities Exchange Act of 1934. A municipal advisor must, at or prior to the inception of a municipal advisory relationship, provide the client with a document making full and fair disclosure of all material conflicts of interest, including disclosure of: (i) any actual or potential conflicts of interest of which it is aware after reasonable inquiry that might impair its ability either to render unbiased and competent advice to or on behaJf of the client or to fulfill its fiduciary duty to the client, as applicable; • Wiltiam Euphrat Municipal Finance, Inc. is not aware of any such confliet of in#erest. (ii) any affiliate of the municipal advisor that provides any advice, service, or product to or on behalf of the client that is directly or indirectly related to the municipai ad�isory activities to be performed by the disclosing municipal advisor; • William Euphrat Municipal Finance, Inc. does not have any affiliates. (iii} any payments made by the municipal advisor directly or indirectly to obtain or retain the client's municipal advisory business; • William Euphrat Municipal Finance, Inc. has nat made any payments to retain the City of Redwood City's business. (iv) any payments received by the municipal advisor fram third parties to enlist the municipal advisor's recommendation to the client of its services, any municipal securities transaction or any municipal financial product; REV:03-10-15 MLG Page 12 of 14 ATTY/AGR2015.Q47/William Euphrat Municipa! Finance, Inc.