Municipal Advisers Regulation Act

Summary

Municipal Advisers Regulation Act - Amends the Securities Exchange Act of 1934 to make it unlawful for a person not associated with a municipal financial adviser to make use of the mails or means of interstate commerce to act as a municipal financial adviser unless such person is registered with the Securities and Exchange Commission (SEC) as a municipal financial adviser in accordance with this Act. Defines "municipal financial adviser" as a person who, for compensation, engages in the business of: (1) providing advice to a municipal securities issuer with respect to issuance of securities, investment of proceeds from such securities, the hedging of risks associated with such securities, or preparation of disclosure documents; (2) assisting a municipal securities issuer in selecting or negotiating guaranteed investment contracts or other investment products; or (3) assisting a municipal securities issuer in the primary offering of securities not involving a public offering. Provides requirements concerning sanctions (including revocation of registration), fair practices, compliance with standards of operational capability, and the fiduciary duty of such an adviser.

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Timeline

1. 21 May 2009

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 21 May 2009

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 May 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 21 May 2009 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 May 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 21 May 2009

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 May 2009

  Open at official source

Sponsors

• Rep. Driehaus, Steve [D-OH-1] · D · Sponsor
• Al Green · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Baca, Joe [D-CA-43] · D · Sponsor
• Emanuel Cleaver · D · Sponsor
• Rep. Moran, James P. [D-VA-8] · D · Sponsor
• Rep. Andrews, Robert E. [D-NJ-1] · D · Sponsor
• Gerald Connolly · D · Sponsor
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.