WASHINGTON —  Securities and Exchange Commission staff are in late stages of finalizing the municipal advisor definition and are considering concerns raised about the definition by state and local governments, the head of the SEC’s Office of Municipal Securities told state and local finance officials meeting here Thursday.

Speaking to members of the Government Finance Officers Association’s committee on governmental debt management, John Cross said the final MA definition is on his office’s “internal, short-term agenda” and that he hopes to present the definition to the SEC’s commissioners “late this spring for potential consideration.”

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