BDA is hopeful that the SEC will take the extension of time to evaluate the good ideas for clarifying its proposed definition of municipal advisor, as presented by legislation that passed the U.S. House of Representatives this week, H.R. 2827 by Rep. Dold (R-Il), Rep. Moore (D-WI) and others. The bill provides needed clarity as to the distinct role of underwriters, and sets the stage for the regulation of currently unregulated municipal advisors – a step that is urgently needed, two years after the passage of the Dodd-Frank Act.
The extension rulemaking is available [here].
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