Securities and Exchange Commission January 6, 2011 – Federal Register Recent Federal Regulation Documents

Registration of Municipal Advisors
Document Number: 2010-32445
Type: Proposed Rule
Date: 2011-01-06
Agency: Securities and Exchange Commission, Agencies and Commissions
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.