The RND Resources team utilizes its top-notch compliance expertise to help guide municipal broker-dealer clients through the maze of ever-changing regulatory compliance requirements, including the newly imposed Securities and Exchange Commission, (SEC) and Municipal Securities Rulemaking Board, (MSRB) registration and fiduciary duties. Natural Resources

Municipal dealer compliance services include:

  • SEC Municipal Advisor Registration and form filings
  • Outsourced Compliance Officer and FinOp registration and services
  • Development of customized WSP supervisory policies and procedures
  • Annual compliance program and supervisory system reviews
  • Ongoing reviews of policies, procedures, agreements, and compliance documents
  • Compliance education and employee training
  • Registered Municipal Securities Principal – Series 53

 Back to services

 

Download: 2016 Compliance Advisory for Municipal Advisors and Municipal Broker-Dealers

 

July 2014 Municipal Advisor Rule Changes
In a press release dated January 13, 2014,  The Securities and Exchange Commission announced that, “as of  July 1, 2014, the first set of municipal advisers will be required to register under the final rules approved by the Commission last year under the Dodd-Frank Act to provide an effective municipal adviser registration compliance regime. The rules require municipal advisers to register with the Commission if they provide advice to municipal entities or certain other persons on the issuance of municipal securities, or about certain investment strategies or municipal derivatives.”  (www.sec.gov/news/pressrelease)

The Municipal Adviser Compliance Rule
The SEC oversees the regulation of municipal advisers.  In this role the SEC will analyze and approve the rule filings made by the MSRB for municipal advisers.  

The MSRB creates compliance rules in which municipal advisers are charged with following when they are advising issuers and investors in a municipal securities transaction.   According to the new rules other professionals such as, accountants, lawyers, planners, tax increment financing  consultants, underwriters and bankers could also be considered municipal advisers, if they provide advice on the issuance of municipal securities and investment of bond proceeds. In other words, any of these professionals, due to the type of advice they provide could fall under the municipal adviser definition. If they qualify according to the new rule, they would have to follow all rules established by the SEC and MSRB.

For more information regarding RND Resources municipal consulting services, please contact Dave Banerjee at (818) 657-0288 or dave@finracompliance.com

RND Resources’ comprehensive compliance guidance to municipal advisers includes SEC registration; the development of customized supervisory policies and procedures; annual compliance programs and supervisory system reviews; ongoing reviews of policies, procedures, agreements and compliance documents; compliance education and employee training. 

 Back to services

Read our FAQs for Municipal Advisors