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Securities and Exchange Commission Press Release
The SEC© today announced that its Office of Municipal Securities has issued interpretive guidance to address questions from market participants regarding the implementation of new final SEC© rules requiring municipal advisers to register with the SEC.
Some of the topics covered included in the Municipal Advisor Registration Rules:
- the advice standard, including the general information exclusion and the treatment of business promotional materials used by underwriters
- the request for proposals-request for qualifications exemption
- the exemption for independent municipal advisors
- the exclusion for registered investment advisers
- the underwriter exclusion, including engagements as underwriters
- issuance of municipal securities and post-issuance advice
- remarketing agent services
- opinions by citizens in public discourse
- the effective date of the final rules and the compliance period for using the final registration forms
For the full details of the Press Release, please click here.