BDA’s commentary focuses on H.R. 2827, sponsored by Rep. Bob Dold (R-IL) and cosponsored by Rep. Gwen Moore (D-WI) and others. This legislation, which the BDA strongly supports, would clarify the definition of municipal advisor, clearing the way for currently unregulated municipal financial advisors to become regulated by the SEC.
The BDA would therefore encourage the SEC to look to the Dold legislation as a guideline as it finalizes the definition of municipal advisor. Once the definition is clarified, the path is clear for the SEC to, for the first time ever, regulate unregulated financial advisors such as NAIPFA’s members.
For the full commentary as it appears in the Bond Buyer, click [here.] For NAIPFA’s commentary, click [here.]
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