SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the Securities and Exchange Commission (SEC) announced a new date for compliance with final Municipal Advisor Registration Rules:
"SIFMA welcomes the SEC's action to postpone the effective date of its Municipal Advisor Registration Rules. The new compliance date will give firms time they need to fully review the SEC's January 10 guidance and incorporate it into compliance programs and employee training. The new compliance date will also give the industry additional time to identify accounts of municipal entities and obligated persons that contain proceeds of municipal securities."
