Three regulators to hold compliance program for MAs
WASHINGTON – Three federal securities regulators are holding a free compliance outreach program for municipal advisors on Nov. 8 in Atlanta.
The program will provide “an open forum for municipal advisory industry professionals to discuss compliance practices with regulators and promote a more effective compliance structure for regulatory obligations,” said a release by the Securities and Exchange Commission, the Municipal Securities Rulemaking Board, and the Financial Industry Regulatory Authority.
“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,” said Rebecca Olsen, deputy director of the SEC’s Office of Municipal Securities.
OMS is partnering with the SEC’s Office of Compliance Inspections and Examinations as well as with FINRA and MSRB to sponsor the program, which will be held at the commission’s Atlanta Regional Office from 9:00 a.m. to 4:00 p.m.
The agenda will include a discussion of the duties and standards of conduct for non-solicitor MAs under the MSRB’s Rule G-42 and the Securities and Exchange Act of 1934, as well as MA registration, recordkeeping and supervisory rules.
The program also will include a roundtable discussion among the regulators with the opportunity for a question and answer session with participants.
MSRB is taking care of registration and the program is open to all municipal advisor industry professionals, with a maximum of two in-person attendees per firm on a first-come, first-serve basis. The program will also be webcast over the SEC’s website.