SEC Requests Comments on Proposed Rule for Non-Solicitor Municipal Advisors (Fed. Reg.)

The SEC requested comments on amendments to proposed Rule G-42 that would establish the core standards of conduct and duties applicable to municipal advisors. The amendments are intended to clarify the manner in which disclosure of conflicts is made, responsibilities for reviewing the recommendations of others, and the liability of an advisor with respect to improper billing practices. Comments must be submitted by September 11, 2015.

See: 80 FR 51645 ("Notice of Filing of Amendment No. 1 to Proposed Rule Change Consisting of Proposed New Rule G-42").
Related news: SEC Requests Comments on MSRB Rule Proposal for Non-Solicitor Municipal Advisors (Fed. Reg.) (August 12, 2015); SEC Orders MSRB to Move to Next Phase on Core Standards of Conducts for Municipal Advisors (August 7, 2015); SIFMA Submits Additional Comments Regarding Proposed Rule Changes to MSRB Rule G-42 (June 3, 2015).