WASHINGTON — State, local, nonprofit and other groups are flooding the Securities and Exchange Commission with complaints that its definition of muni adviser in proposed registration rules is overly broad and would disrupt their bond financings and other activities.

At issue are rules the SEC proposed Dec. 22 to require muni advisers to register with it, a requirements mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.