SEC, IRS Form Municipal Bond Oversight Committee

Law360, New York (March 3, 2010, 2:41 PM EST) -- The U.S. Securities and Exchange Commission and the Internal Revenue Service have agreed to form a new interagency committee to identify trends and sharpen regulations in the municipal bond market.

The Tax Exempt Bond/Municipal Securities Committee will meet quarterly to discuss policy, procedure and compliance issues related to the municipal securities industry, preparing periodic reports and submitting legislative proposals to enhance oversight, according to a memorandum of understanding signed Tuesday by leaders of both agencies.

The committee's formation is part of a broader initiative by the...
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