Municipal securities regulation places a strong emphasis on transparency about the dealer’s role and regulatory status in the municipal market. Under MSRB customer disclosure expectations, municipal securities dealers are required to provide customers with certain written disclosures, and a commonly tested requirement is that customers receive written notice confirming that the dealer is registered with the MSRB (often tied to annual customer notifications and educational disclosures). Therefore, the correct answer is B.

Choice A is incorrect because dealers are not required to distribute their own year-end income statements to customers annually as an MSRB customer disclosure item. Financial statement delivery requirements generally relate to specific contexts (and are not a standard annual customer mailing requirement under MSRB rules for all customers). Choice C is not the best choice because while firms must have supervisory and compliance infrastructure and may provide contacts, an annual written requirement to provide the chief compliance officer’s contact information is not the standard MSRB annual disclosure item being tested here. Choice D is incorrect because dealers do not provide customers an annual count of complaints as a required MSRB disclosure; complaint reporting and recordkeeping are internal compliance matters and may be reportable to regulators, but not typically distributed as a required annual customer disclosure.

On the SIE, when you see “municipal securities dealer” + “annual written disclosure,” you should think MSRB-focused customer protection messaging—especially disclosures about the dealer’s municipal regulatory framework and how municipal customers can access educational resources and regulatory information. The cleanest match among the options is the dealer’s written statement of MSRB registration.