Compliance outreach to municipal advisors


MUNICIPAL advisors are being encouraged to register on a first come basis for an initial Compliance Outreach Program meeting scheduled in Chicago on Monday 3 November.
The free program is sponsored by the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority and the Municipal Securities Rulemaking Board.
The initiative will create a forum for discussions between municipal advisors and regulators about risk management, regulatory issues, and compliance practices.
Kevin Goodman, national associate director of the SEC's broker-dealer and municipal advisor examination programs, said: “The municipal advisor program will be a good opportunity for new municipal registrants to better understand regulatory expectations.”
FINRA’s head of member regulation-sales practice, Mike Rufino, said: “This program will provide municipal advisor compliance professionals across the country with the opportunity to hear directly from their collective regulators on the issues and expectations regarding municipal advisors."
Lynnette Kelly, executive director of the MSRB, said: “The outreach program will help reinforce the importance of complying with rules being developed for the municipal advisor community."
The first meeting will also be webcast for those unable to attend and they do not need to register to view the online screening. Details about the online link will be posted on the SEC website on the Monday morning, 3 November.

Source: SEC Newsroom