Advertisements Exempt from Disclosure Requirements
The following advertisements for municipal fund securities do not need to include disclosure statements:
• Generic advertisements do not refer by name to any specific investment portfolio offered by an issuer of municipal fund securities. Generic advertisements are limited to explanatory information relating to municipal fund securities in general. They may include the name and address of the dealer sponsoring the advertisement.
• A blind advertisement is one that does not include a specific description of a product or the identity of the advertiser, only a general statement of an issuer’s general objectives and a phone number to request an official statement or other information. In no way may it