Disclosure
As a registered municipal advisor, RSI Group LLC is mandated by the Municipal Securities Regulatory Board (MSRB) to furnish the following disclosure statements:
MSRB G-10
In compliance with MSRB Rule G-10, RSI Group LLC provides you with the following information:
RSI Group LLC is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board as a Broker/Dealer.
For reference, the Municipal Securities Rulemaking Board's website is www.msrb.org
An investor brochure that describes the protections that may be provided by the Municipal Securities Rulemaking Board rules and how to file a complaint with an appropriate regulatory authority is available at https://www.msrb.org/~/media/Files/Resources/MSRB-Investor-Brochure.ashx?la=en.
MSRB G-42
In compliance with MSRB Rule G-42, RSI Group LLC provides you with the following information:
Disclosure of Conflicts of Interest and Legal or Disciplinary Events:
In accordance with Municipal Securities Rulemaking Board (“MSRB”) Rule G-42, which outlines the duties of non-solicitor municipal advisors, such advisors are mandated to provide specific written disclosures to their clients. These disclosures must encompass, among other matters, any conflicts of interest and any legal or disciplinary events that may have occurred with RSI Group LLC and its affiliated individuals.
Conflicts of Interest:
RSI Group LLC hereby discloses that in connection with the issuance of municipal securities, it may receive compensation from an Issuer or Obligated Person for services rendered. This compensation is contingent upon the successful closing of a transaction or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, RSI Group LLC discloses that such contingent and/or transactional compensation may present a potential conflict of interest regarding RSI Group LLC’s ability to provide unbiased advice to enter into such transactions. This conflict of interest will not impair RSI Group LLC’s ability to render unbiased and competent advice or to fulfill its fiduciary duty to the Issuer. If RSI Group LLC becomes aware of any additional potential or actual conflict of interest after this disclosure, it will disclose the detailed information in writing to the Issuer in a timely manner.
Municipal Advisory Clients/Relationships: RSI Group LLC serves a diverse range of clients whose interests may occasionally have direct or indirect implications on the interests of other RSI Group LLC clients. For instance, RSI Group LLC provides municipal advisory services to other municipal advisory clients, and in such cases, it is subject to either a fiduciary duty or a duty of care to these other clients, just as it is to any of its future clients. These other clients may, at times and depending on the specific circumstances, have competing interests. When acting in the interests of its various clients, RSI Group LLC could potentially encounter a conflict of interest arising from these competing client interests. RSI Group LLC fulfills its regulatory obligations and mitigates such conflicts through maintaining honesty and utmost good faith with all of its clients.
Legal or Disciplinary Events:
RSI Group LLC does not have any legal events or disciplinary history on its Form MA and Form MA-I, which include information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations, and civil litigation. The Issuer may electronically access RSI Group LLC’s most recent Form MA and each most recent Form MA-I filed with the Commission at the following: website: http://www.sec.gov/edgar/searchedgar/companysearch.html
There have been no substantive modifications to the legal or disciplinary event disclosure provisions contained within Forms MA or MA-I submitted to the Securities and Exchange Commission (SEC). Should any material legal or regulatory action be initiated against RSI Group LLC, the company will promptly provide comprehensive disclosure to the Issuer, detailing all relevant information. This disclosure will enable the Issuer to conduct a thorough evaluation of RSI Group LLC, its management, and personnel.