skip to Main Content

Interpretative Guidance on Municipal Advisor Registration Rules

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.

Print Friendly, PDF & Email
Back To Top
Search