Muni advisor legislation reported to U.S. House

The U.S. House Financial Services Committee unanimously approved legislation that would amend Dodd-Frank to clarify the scope of the financial reform bill’s municipal advisor provisions. The legislative alternative arose after industry participants and lawmakers on both sides of the aisle said a proposed Securities and Exchange Commission rule seeking to implement Dodd-Frank’s municipal advisor registration provisions was overly broad. Read on to learn about the legislation.