top of page
Autumn Street

Regulatory Disclosures

SEC REGISTERED INVESTMENT ADVISOR REGISTRATION

Omnicap has been registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisor Act of 1940 (CRD # 133387) since December 3, 2004.

MSRB AND SEC MUNICIPAL ADVISOR REGISTRATION, IRMA AND MSRB DISCLOSURES

Omnicap has been a registered municipal advisor with the Municipal Securities Rulemaking Board (MSRB# K0142) since November 2010 and with the SEC (Municipal Advisor Registration # 867-00683) since October 2014. Omnicap is an Independent Registered Municipal Advisor (“IRMA”) for purposes of the SEC rules regarding the registration of municipal advisors. Omnicap is independent of any firm, including any broker dealer, underwriter, or any other firm, and Omnicap does not provide underwriting services. 

REGULATORY COMPLIANCE NOTICE - 05/08/2023

As of May 8th, 2023, Omnicap has employed Daniel Christopher Daly. Mr. Daly has been affiliated with Citigroup Global Markets Inc. within the last two years. For two years after the end of his affiliation with Citigroup Global Markets Inc. he will not participate in the review of any solicited or unsolicited proposals received from Citigroup Global Markets Inc. or any other municipal advisory activity in which Citigroup Global Markets Inc. is relying on the IRMA Exemption. 

None of Omnicap's other Associated Individuals have been associated with a broker-dealer within two years of the date of this notice. A list of Omnicap’s municipal advisor representatives can be found on the MSRB website at http://msrb.org/MARegistrants.aspx.

RULE G-42: DUTIES OF NON-SOLICITOR MUNICIPAL ADVISORS

Municipal Securities Rulemaking Board ("MSRB") Rule G-42 establishes core standards of conduct for municipal advisors engaging in municipal advisory activities. A municipal advisor engaging in municipal advisory activities on behalf of a municipal entity or obligated person client (“client”) is subject to a fiduciary duty under Rule G-42, which includes a duty of care and a duty of loyalty. This specific obligation requires the municipal advisor to forgo engaging in municipal advisory activities on behalf of a client if it cannot manage or mitigate its conflicts of interest in a manner that will permit it to act in the client’s best interest. A municipal advisor must also undertake a reasonable investigation to determine that it is not basing any recommendation on materially inaccurate or incomplete information.

 

A municipal advisor has a duty, prior to or upon engaging in municipal advisory activities, to make a written disclosure to its client any known material, actual or potential conflicts of interest that could reasonably be anticipated to impair the municipal advisor’s ability to provide advice to, or on behalf of, the client. Such disclosure also must include an explanation of how the municipal advisor addresses or intends to manage or mitigate each conflict. A municipal advisor must also provide the client, prior to or upon engaging in municipal advisory activities, written disclosure of any legal or disciplinary event that is material to the client’s evaluation of the municipal advisor or the integrity of its management or advisory personnel. The following disclosures are made with respect to Omnicap and its associated persons.

LEGAL OR DISCIPLINARY EVENTS

Omnicap, has never been subject to any legal, disciplinary or regulatory actions. Clients may electronically access Omnicap's most recent Form MA and Form MA-l filed with the U.S. Securities and Exchange Commission (“SEC”) at the following website by searching for Omnicap Group LLC or CIK# 0001620191: www.sec.gov/edgar/searchedgar/companysearch.html.

REGULATORY DUTIES WHEN SERVICING CLIENTS

MSRB Rule G-42 requires a municipal advisor to make a reasonable inquiry as to the facts that are relevant to a client’s determination whether to proceed with a course of action or that form the basis for and advice provided by the municipal advisor to the client. The rule also requires that the municipal advisor undertake a reasonable investigation to determine that it is not basing any recommendation on materially inaccurate or incomplete information. The municipal advisor is also required under the rule to use reasonable diligence, to know the essential facts about the client, and the authority of each person acting on the client’s behalf.


Each client agrees to cooperate, and to cause its agents to cooperate, with Omnicap in carrying out these regulatory duties, including providing to Omnicap accurate and complete information and reasonable access to relevant documents, other information and personnel needed to fulfill such duties. In addition, each client agrees that, to the extent the client seeks to have Omnicap provide advice with regard to any recommendation made by a third party, the client will provide to Omnicap written direction to do so as well as any information it has received from such third party relating to its recommendation.

RULE G-10: INVESTOR AND MUNICIPAL ADVISORY CLIENT EDUCATION AND PROTECTION

Pursuant to MSRB Rule G-10, each municipal advisor shall promptly provide in writing (which may be electronic) to the client upon engagement and at least annually thereafter during the term of engagement the following information:
 

  • Omnicap has been a registered municipal advisor with the Municipal Securities Rulemaking Board (MSRB# K0142) since November 2010 and with the SEC (Municipal Advisor Registration # 867-00683) since October 2014. Certificates of our registrations are available upon request. A list of Omnicap’s municipal advisor representatives can be found on the MSRB website at http://msrb.org/MARegistrants.aspx.

  • Clients may obtain a municipal advisory client brochure that is posted on the MSRB website at http://www.msrb.org/.
     

RULE G-37: POLITICAL CONTRIBUTIONS AND PROHIBITIONS ON MUNICIPAL SECURITIES BUSINESS AND MUNICIPAL ADVISORY BUSINESS

MSRB Rule G-37 prohibits municipal advisors from engaging in municipal advisory business with clients if certain political contributions have been made to officials of such municipal entities and requires municipal advisors to disclose certain political contributions, as well as other information, to allow public scrutiny of such political contributions and the municipal advisory business of municipal advisors. Per Omnicap’s policies, employees of the firm are prohibited from making direct or indirect political contributions.

RULE G-20: GIFTS, GRATUITIES, NON-CASH COMPENSATION AND EXPENSES OF ISSUANCE

MSRB Rule G-20 protects against improprieties and conflicts of interest that may arise when a municipal advisor or its associated persons give gifts or gratuities in relation to the municipal advisory activities of the recipients’ employers. Per Omnicap’s policies, employees of the firm are prohibited from giving direct or indirect gifts or gratuities in relation to the municipal advisory activities of the firm.

bottom of page