SEC Unveils New Registration Rules For Muni Advisers

Law360, New York (December 21, 2010, 5:43 PM EST) -- The U.S. Securities and Exchange Commission has proposed a rule outlining more detailed registration requirements for municipal advisers, marking the latest regulatory action stemming from the financial reform bill passed in July.

The SEC said Monday it was seeking public comment on the new rule, which would replace an interim rule the agency adopted in September to meet requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The act required municipal advisers to register by Oct. 1. Under the new rule, advisers would be...
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