# EDGAR Filing Document

**Accession Number:** 0001631061
**File Stem:** 0001631061-26-000001
**Filing Date:** 2026-3
**Character Count:** 12416
**Document Hash:** 43faeb76d8e63d65cbe4ec4c172cb18a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001631061-26-000001.hdr.sgml**: 20260318

**ACCESSION NUMBER**: 0001631061-26-000001

**CONFORMED SUBMISSION TYPE**: MA-A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260316

**DATE AS OF CHANGE**: 20260318

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KeyBank Municipal Advisor Department
- **CENTRAL INDEX KEY:** 0001631061

**ORGANIZATION NAME:**
- **EIN:** 340797057
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** MA-A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-01579
- **FILM NUMBER:** 26765997

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **STREET 2:** 3RD FLOOR
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44114
- **BUSINESS PHONE:** 216 689-3736

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **STREET 2:** 3RD FLOOR
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44114

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0001631061

**Filer CCC:** XXXXXXXX

**Contact Name:** Federico J Martin

**Contact Phone:** 801-493-9303

**Contact Email:** federico_martin@keybank.com

**Notification Emails:** edgarservicesteam@dfsco.com, federico_j_martin@keybank.com

### Type of Filing

**Selected Filing Type:** Annual Update

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** KeyBank Municipal Advisor Department

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 34-0797057

**D. Registrations:**

- **Municipal Advisor (Temporary):** SEC File No: 866-01566-00

- **Municipal Advisor:** SEC File No: 867-01579

**E. Principal Office and Place of Business:** 4900 Tiedeman Road, 3rd Floor, CLEVELAND, OH, 44144

**Telephone Number:** 216-689-3736

**Mailing Address is Different from Principal Office:** No

**F. Website:** Key.com

**G. Chief Compliance Officer (CCO):**

**Name:** Federico J Martin

**Address:** 4900 Tiedeman Road, 3rd Floor, Cleveland, OH, 44144

**Phone Number:** 801-297-5813

**Email:** federico_j_martin@keybank.com

**H. Business Affiliates:**

- **Name:** KeyBank National Association

  - **Issuing Agency:** Office of the Comptroller of the Currency (OCC)

  - **Jurisdiction:** 

**I. Location of Books and Records:** No

### Item 2: Form of Organization

**A. Applicant's form of organization:** Other (—)

**B. Month of Applicant's Annual Fiscal Year End:** December

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** OH

**D. Date of Organization:** 07-14-2014

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 3

**B. Municipal Advisory Activities - Employees:** 3

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 0

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 0

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 1

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Other
, Other

**J. Compensation Arrangements (Solicitation):** 
Other
, Other

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Investment Of Proceeds MS

### Item 5: Other Business Activities

**Is applicant engaged in any other non-municipal advisor business?** No

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** Broker-dealer municipal securities dealer or government securities broker or dealer, Investment Adviser, Swap Dealer, Banking/Thrift institution, Other municipal advisor, Broker-dealer municipal securities dealer or government securities broker or dealer, Investment Adviser, Swap Dealer, Banking/Thrift institution, Banking/Thrift institution, Broker-dealer municipal securities dealer or government securities broker or dealer, Commodity trading advisor, Other municipal advisor

**Total Associated Persons:** 4

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** No

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** No

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** Yes

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** Yes

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** Yes

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** Yes

- **Recommend broker-dealers to clients?:** No

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** —

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** No

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** No

- **SEC/CFTC Imposed Civil Penalty?:** Yes

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** No

- **SRO Found Cause of Denial/Suspension?:** No

- **SRO Barred/Suspended/Fined > $2,500?:** No

- **SRO Denied/Suspended/Revoked Registration?:** No

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** Yes

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** No

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** No

### Schedule A: Direct Owners and Executive Officers

| Name                         | Title/Status            | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|
| KeyBank National Association | Owner                   | 07-14-2014      | E - 75% or more   | Yes               | 34-0797057   |  |
| Kristofer Daniel Nedwick     | President               | 03-11-2019      | NA - less than 5% | Yes               |  | 5443010      |
| Aliosha NMN Fauth            | Chief Financial Officer | 03-06-2017      | NA - less than 5% | No                |  | 000000000    |
| Federico J Martin            | CCO                     | 08-01-2023      | NA - less than 5% | Yes               |  | 000000000    |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity   | Name                         | Title/Status            | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Direct      |  | KeyBank National Association | Owner                   | 07-14-2014      | E - 75% or more   | Yes               | 34-0797057   |  |
|  | Direct      |  | Kristofer Daniel Nedwick     | President               | 03-11-2019      | NA - less than 5% | Yes               |  | 5443010      |
|  | Direct      |  | Aliosha NMN Fauth            | Chief Financial Officer | 03-06-2017      | NA - less than 5% | No                |  | 000000000    |
|  | Direct      |  | Federico J Martin            | CCO                     | 08-01-2023      | NA - less than 5% | Yes               |  | 000000000    |

### Disclosure Reporting Pages (DRPs)

**Regulatory DRP for: Applicant (Responding to Questions: 9-C1, 9-C4, 9-C5, 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 136300

  - **Filed On (AP):** Form ADV/BD/U4 for Key Investment Services LLC

  - **Disclosure Number:** 2064700

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 2064700

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 136300

  - **Filed On (AP):** Form ADV/BD/U4 for Key Investment Services LLC

  - **Disclosure Number:** 1865619

**Regulatory DRP for: Applicant (Responding to Questions: 9-C5, 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 136300

  - **Filed On (AP):** Form ADV/BD/U4 for Key Investment Services LLC

  - **Disclosure Number:** 2013039634703

**Regulatory DRP for: Applicant (Responding to Questions: 9-C5, 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 2261131

**Regulatory DRP for: Applicant (Responding to Questions: 9-C5, 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 2321724

**Regulatory DRP for: Applicant (Responding to Questions: 9-C4)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 1864359

**Regulatory DRP for: Applicant (Responding to Questions: 9-C4)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 1869926

**Regulatory DRP for: Applicant (Responding to Questions: 9-D2)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets Inc

  - **Disclosure Number:** 1897889

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

  - **Associated Person:** —

  - **CRD Number:** 566

  - **Filed On (AP):** Form ADV/BD/U4 for KeyBanc Capital Markets

  - **Disclosure Number:** 1936781

### Execution Page

**Signature:** Federico Martin

**Signer Name:** Federico Martin

**Title:** Compliance Officer

**Date:** 03-16-2026