SEC Releases Final Municipal Advisor Registration Rule Part I: Who is a Municipal Advisor?
On September 18, 2013, the Securities and Exchange Commission adopted its final rule on the permanent registration of municipal advisors. The final rule replaces the current temporary registration scheme for municipal advisors with a permanent registration scheme, and provides extensive guidance on activities that trigger municipal advisor status.
This memorandum comprises Part I of a two-part series of client memoranda on the final rule. This Part I focuses on the entities that are subject to regulation and registration as municipal advisors. Part II, which will be published shortly, will address in detail the mechanics and timing of registration under the SEC’s permanent registration scheme.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
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