SEC Updates Municipal Advisor Registration Guidance

The SEC Office of Municipal Securities updated its Registration of Municipal Advisors FAQ webpage by adding: “Completion of Form MA, Form MA-I, and Form MA-NR.”

The SEC provided clarifying details on:

• instances under which employment information of associated individuals of municipal advisors must be disclosed on Form MA-I; and
• circumstances that would require a municipal advisor to check off “Other Municipal Advisor” on Form MA.

The SEC also clarified that firms will meet the “prompt” filing requirement of Forms MA, MA-I and MA-NR if they file the required forms within 30 calendar days of the event requiring such filing.

Additionally, the SEC confirmed that municipal advisors (i) must identify the Chief Compliance Officer on Form MA by providing the officer’s name and contact information and (ii) are no longer required to include Social Security numbers, among other types of personally identifiable information, when completing Form MA and Form MA-I.