Municipal Advisor Registration - Effect of Proposed Rules on Issuer and Obligor Boards
Section 975 of the Dodd‐Frank Wall Street Reform and Consumer Protection Act (the “Dodd‐Frank Act”) amended Section 15B of the Securities Exchange Act of 1934 (as amended, the “Exchange Act”), effective October 1, 2010, to, among other things, (1) require municipal advisors to register with the Securities and Exchange Commission (the “SEC”), (2) establish a fiduciary duty between a municipal advisor and a municipal entity for which it is acting as a municipal advisor,1 and (3) subject municipal advisors to additional anti‐fraud provisions.2 The SEC adopted an interim final temporary rule (Rule 15Ba2‐6T; the “Temporary Rule”) to enable municipal advisors to satisfy the statutory requirement to register with the SEC, which rule became effective October 1, 2010, and expires on December 31, 2011.
Also of Interest
- Hawkins Elects Alexis Harrington to Partner
Hawkins Delafield & Wood LLP is pleased to announce the election of Alexis Harrington to the partnership, effective January 1, 2019.
- Hawkins Counsel to the 2018 Northeast Deal of the Year
The Authority’s transaction marks the 20th Deal of the Year transaction that Hawkins has participated in the last 16 years.
- Rule 15c2-12 Compliance Alert
This edition of the Hawkins Advisory is a compliance alert, supplementing the Hawkins Advisory regarding Rule 15c2-12 that is dated August 22, 2018.
- Hawkins Attorneys Featured at Bond Attorneys’ Workshop
Four Hawkins attorneys will serve on panels at the National Association of Bond Lawyers 43rd annual Bond Attorneys’ Workshop which will be held September 26-28, 2018 in Chicago.