SEC Approves Municipal Advisor Rules
On September 18, 2013, the Securities and Exchange Commission (the “SEC”) unanimously approved final rules (the “Rules”) governing the definition, registration, and regulation of municipal advisors. In addition, the Rules provide guidance and clarification on several matters that had arisen because of provisions in the proposed rules.2 Furthermore, the Rules provide exemptions from the definition of “municipal advisor” which, in some cases, go beyond the exclusions expressly provided for in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”).
Also of Interest
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- Average Area and Nationwide Purchase Price Safe Harbor Limits
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- Annual Qualified Mortgage Information
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- Municipal Market Regulatory Update
This Hawkins Advisory describes the proposed amendments to Rule 15c2-12 and provides a summary and analysis of SEC municipal enforcement actions over the last year.