The MSRB filed with the SEC a content outline for the Municipal Advisor Principal Qualification Examination (the "Series 54 examination") and "related selection specifications for the examination."

The content outline was created to provide guidance to candidates preparing for the Series 54 examination as to the "specified knowledge required in each functional area that is specific to the role and responsibilities of associated persons." The content outline does not include any "textual changes" to the MSRB's rules.

The content outline and related specifications were filed for immediate effectiveness. Comments on the content outline must be submitted by January 22, 2019.

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