Regulatory Disclosures

Cresap, Inc. is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board.

Cresap, Inc.’s clients can access the Municipal Securities Rulemaking Board’s website at:  http://www.msrb.org/.

The Municipal Securities Rulemaking Board’s website makes available 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.