[WEBINAR] Annual Labor & Employment Update
Regulation FD prohibits public companies from disclosing material nonpublic information to designated classes of persons such as securities professionals and holders of the issuer’s securities without, in most cases,...more
In the current economic climate, opportunities are expanding significantly for municipal underwriters and derivatives specialists as states and municipalities across the country clamor to pay for infrastructure and services,...more
At yesterday’s Housing Authority Summit, representatives from housing authorities, HUD’s Office of Public Housing Investments and RAD teams, housing legislative advocates, key industry financial and advisory consultants and...more
The MSRB last week proposed an extension of its gift-limitations Rule G-20 to encompass municipal advisors. The Proposed Rule generally limits gifts in relation to municipal securities or advisory services to $100 per year. ...more
The SEC last week approved new MSRB Rule G-44 implementing supervision and compliance requirements for municipal advisors. The MSRB touted the Rule as “its first dedicated rule for municipal advisors” under the Dodd-Frank...more
In an era of increased scrutiny and regulation of the municipal market, the final rules on what constitutes, and the registra- tion of, “municipal advisors”, became effective July 1, 2014. Concurrently, the SEC initiative to...more
Today, the Municipal Securities Rulemaking Board (MSRB) announced that it will distribute a confidential electronic survey to registered municipal advisors to assess the business activities of municipal advisory...more
On May 19, the SEC updated its Frequently Asked Questions Regarding the Municipal Advisor Registration Rules to clarify when the proceeds of pension obligations bonds should be treated as “proceeds of municipal securities.” ...more
We have reviewed prior SEC guidance on the municipal advisor rules, from a view point of structuring a business to avoid a municipal advisory role. The SEC has now issued additional FAQs, including on the engineering...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires municipal advisors to register with the Securities and Exchange Commission (“SEC”). On September 20, 2013, the SEC adopted final rules governing...more
The SEC has issued a temporary stay of its municipal advisor registration rules (the “Final Rules”). The stay means that the rules, which were to become effective on January 13, 2014, will not apply until July 1, 2014. ...more
On Thursday, January 9, the MSRB re-proposed new Rule G-42 promulgating standards of conduct for Municipal Advisors (“MA’s”) subject to the almost-newly-effective SEC MA Rule, 17 CFR § §240.15Ba1-1 to 15Ba1-8 (now delayed...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) was signed into law by President Obama on July 21, 2010. The Dodd-Frank Act was enacted in response to the financial crisis that began in...more
The SEC’s new Municipal-Advisor Rules, 17 CFR § § 240.15Ba1-1 to 15Ba1-8 were to become effective Monday, January 13, 2014 but that morning were delayed until July 1. SEC Rel. 34-71288. Adopted last September, SEC Rel....more
As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Securities and Exchange Commission (the “SEC” or Commission”) adopted on September 20, 2013 final rules and forms...more
On September 20, 2013, the Securities and Exchange Commission (SEC) published its final regulations regarding the registration of “municipal advisors.” These final regulations create a permanent registration regime in place...more
The Securities and Exchange Commission has issued final rules requiring municipal advisors to register with the SEC. The final rules define “municipal advisor” to include a person who provides advice regarding municipal...more