Exam Alert: SEC Delays Compliance Date of Municipal Adviser Registration Rules, Responds to FAQs

The SEC has announced that compliance with the final municipal adviser registration rules will not be required until July 1, 2014. The SEC has also released interpretive guidance for the municipal adviser registration rules, in the form of responses to frequently asked questions. Continue reading

The SEC has announced that compliance with the final municipal adviser registration rules will not be required until July 1, 2014. This date is when the first set of advisers will be required to register under the rule.

The SEC has also released interpretive guidance for the municipal adviser registration rules, in the form of responses to frequently asked questions. The FAQs cover a wide range of topics, including the advice standard, various exemptions and exclusions, issuance of municipal securities, remarketing agent services, and more. The FAQs can be found here.

For more information on the municipal adviser registration rules, see our two prior exam alerts on the topic, here and here.

 

Sources:

SEC Release 2014-8: SEC Announces New Date for Compliance with Final Municipal Advisor Registration Rules

SEC Release 2014-7: Interpretive Guidance on Municipal Advisor Registration Rules

 

This alert applies to the Series 7, Series 52, and Series 53.

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