Municipal Advisors Warned About Compliance Obligations

On November 7, 2017 the SEC Office of Compliance Inspections and Examinations (OCIE) issued a risk alert announcing it had conducted 110 exams of municipal advisors.  The examinations evaluated compliance with regulatory obligations including registration, statutory fiduciary standard of care, fair dealing, record keeping, and supervision. The staff observed that municipal advisors were “generally unfamiliar… READ MORE