Regulatory agencies have created a forum for municipal advisory industry professionals to discuss compliance practices with regulators.
The open forum will be held at the Securities and Exchange Commission’s (SEC) Atlanta Regional Office on Nov. 8, from 9:00 a.m. to 4:00 p.m. ET. The event will be webcast live on the SEC’s website and registration is now open.
The event is sponsored by the SEC, the Municipal Securities Rulemaking Board (MSRB), and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for the Compliance Outreach Program for Municipal Advisors.
Topics of discussion include the duties and standards of conduct for non-solicitor municipal advisors under MSRB Rule G-42 and the Securities and Exchange Act of 1934, and municipal advisor compliance with supervision, registration, and books and records rules. The program also will include a roundtable discussion among the regulators and a question and answer session with participants.
“This program is designed to promote compliance with municipal advisor regulations and affords the industry the opportunity to hear from all three regulators on the regulatory obligations of municipal advisors,” Rebecca Olsen, deputy director of the SEC’s Office of Municipal Securities, said.
Attendance at the program is free.
“This municipal advisor outreach will take a deeper dive into regulatory requirements and their practical implementation, helping municipal advisor professionals ensure proper regulatory compliance,” Suzanne McGovern, assistant director of the SEC’s broker-dealer and municipal advisor examination programs, said.
MSRB Executive Director Lynnette Kelly said the program is consistent with the MSRB’s goal of assisting municipal advisors in understanding and complying with their regulatory obligations.
“Any firm that wants to enhance its understanding of the regulatory expectations in the important areas of fiduciary duty and supervision will benefit from participating in the outreach program,” FINRA’s Head of Member Regulation-Sales Practice Mike Rufino said.
Registration is now open. The program is administered by the MSRB and is open to all municipal advisor industry professionals, with a maximum of two in-person attendees per firm.