Alert January 03, 2012

SEC Extends Temporary Registration Program for Municipal Advisors

The SEC issued an order amending interim final temporary Rule 15Ba2-6T under the Securities Exchange Act of 1934 to extend the Rule’s sunset provision until September 30, 2012.  Rule 15Ba2-6T provides a transitional means for municipal advisors to satisfy the registration requirements introduced by the Dodd-Frank Act until the SEC can implement a permanent registration program.  The SEC said that it is not making any substantive changes to the Rule at this time in order to avoid causing those relying on the Rule to need to make adjustments to their operations or amendments to their temporary registration forms.