In February, a trio of financial agencies will sponsor an open forum for municipal advisory industry professionals to discuss regulatory and compliance issues with regulators.
Securities and Exchange Commission (SEC), Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) officials said the free Compliance Outreach Program for Municipal Advisors would be held at the Hyatt Regency in San Francisco, Calif., on Feb. 7.
Discussion topics include the duties and standards of conduct for solicitor and non-solicitor municipal advisors under MSRB Rule G-42 and the Securities Exchange Act of 1934 and municipal advisor compliance with new MSRB rules.
“This program, now in its fourth year, highlights our continued commitment to promote compliance with municipal advisor regulations by providing the industry the opportunity to engage first-hand with all three regulators regarding regulatory obligations,” Rebecca Olsen, director of the SEC’s Office of Municipal Securities, said.
Pete Driscoll, director of the SEC’s Office of Compliance, Inspections and Examinations (OCIE), said the program is one of the touchstones of OCIE’s efforts to be transparent and promote compliance by municipal advisors.
“I am happy to see that this forum provides municipal advisors an opportunity to stay abreast of developments in the regulatory regime, including a number of new rules, to better understand the examination process, and to hear some of the common compliance observations the SEC staff is identifying in its examinations,” Driscoll said.