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SEC: Registration of Municipal Advisors Proposed Rule

Federal Register, January 6, 2011, Page 824-969

Summary

Section 975 of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act (‘‘Dodd-Frank Act’’) amended Section 15B of the Securities Exchange Act of 1934 (as amended, the ‘‘Exchange Act’’) to require municipal advisors, as defined below, to register with the Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’) effective October 1, 2010. To enable municipal advisors to temporarily satisfy this requirement, the Commission adopted an interim final
temporary rule and form, Exchange Act rule 15Ba2–6T and Form MA–T, effective October 1, 2010. Rule 15Ba2–
6T will expire on December 31, 2011.

The Commission is proposing new rules 15Ba1–1 through 15Ba1–7 and new Forms MA, MA–I, MA–W, and MA–NR under the Exchange Act. These proposed rules and forms are designed to give effect to provisions of Title IX of the Dodd-Frank Act that, among other things, would establish a permanent registration regime with the Commission for municipal advisors and
would impose certain record-keeping requirements on such advisors.

For the full copy, please visit the Federal Register notice.

Dates

Comments should be received on or before February 22, 2011.

Addresses

Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/rules/proposed); or • Send an e-mail to rulecomments@sec.gov. Please include File Number S7–45–10 on the subject line; or • Use the Federal eRulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number S7–45–10. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments will also be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly.

Further Information

Martha Haines, Assistant Director and Chief, Office of Municipal Securities, at (202) 551–5681; Dave Sanchez, Attorney Fellow, Office of Municipal Securities, at (202) 551–5540; Victoria Crane, Assistant Director, Office of Market Supervision, at (202) 551–5744; Ira Brandriss, Special Counsel, Office of Market Supervision, at (202) 551–5651; Jennifer Dodd, Special Counsel, Office of Market Supervision, at (202) 551–5653; Steve Kuan, Special Counsel, Office of Market Supervision, at (202) 551–5624; Daniel Gien, Attorney-Adviser, Office of Market Supervision, at (202) 551–5747; Yue Ding, Law Clerk, Office of Market Supervision, at (202) 551–5842; or any of the above at Division of Trading and Markets, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–6628.

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