October 15, 2021

Volume XI, Number 288

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MSRB Withdraws Pending Municipal Advisor Rule Proposals

On September 1, 2011, Andrews Kurth issued an alert advising of two recent filings by the Municipal Securities Rulemaking Board (“MSRB”) with the Securities and Exchange Commission (“SEC”) in which the MSRB had proposed important new standards of conduct for municipal advisors under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Our firm also advised that the proposed changes set forth in the two filings would not go into effect prior to the effective date of new SEC rules defining the term “municipal advisor.”

Click here to review our September 1, 2011 alert.

In a surprise move, on September 9, 2011, the MSRB withdrew the filings discussed in our alert with the explanation that “[u]pon the SEC’s adoption of a permanent definition of the term ‘municipal advisor’ under the Securities Exchange Act of 1934, the MSRB plans to resubmit the rule proposals.”

Andrews Kurth will continue to stay apprised of rules and filings by the MSRB that impact you.

Copyright © 2021, Hunton Andrews Kurth LLP. All Rights Reserved.National Law Review, Volume I, Number 257
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About this Author

Jerry E. Turner, Public Finance Attorney with Andrews Kurth law firm
Of Counsel

Jerry has over 40 years of experience in public finance and has served as senior attorney in connection with the representation of various public clients, including state agencies, university systems, cities, counties, transit authorities and other political subdivisions.  His public finance practice includes serving as bond counsel and underwriter's counsel in connection with municipal bond offerings. In addition, Jerry represents various public funds and endowments in connection with their investment activities.

512-320-9234
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