Issuers Fighting Provision in the SEC’s Proposed Rules for Municipal Advisers
Issuers are fighting the proposed requirement that appointed board members of municipal entities register with both the SEC and the MSRB if they advise on the issuance of municipal ­securities. The argument is that registration would have a chilling effect on the ability to find volunteers willing to serve on the boards of bond-issuing authorities. The SEC is seeking comments on the proposal for 45 days after its publication in the Federal Register, possibly this week.
Date
January 6, 2011
Cross References (links may require a Cabinet subscription)
Proposed Rule S7-45-10