U.S. SEC unanimously approves muni adviser definition
WASHINGTON, Sept 18
WASHINGTON, Sept 18 (Reuters) - The U.S. Securities and Exchange Commission on Wednesday unanimously voted to approve a definition of municipal advisers more than two years in the making, clearing the way for advisers to formally register with federal regulators on July 1.
The definition grants numerous exemptions to who must register as an adviser, including elected and appointed officials. The 2010 Dodd-Frank financial reform law had required making those who advise municipalities on structuring debt sales and investing bond sale proceeds more accountable.
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