The Securities and Exchange Commission has extended the sunset date of rules for temporary registration of municipal advisors under interim final temporary Rule 15Ba2-6T of the Securities Exchange Act of 1934 by one year to September 30, 2013. The interim final temporary Rule was to expire September 30, 2012. By extending the sunset date for a second time, the SEC also extends by one year the date by which it must take action on its proposed final rules for registration of municipal advisors.

To view the SEC release extending the sunset, click here.

On September 19, 2012, the United States House of Representatives passed legislation that would amend Section 15B of the Exchange Act to narrow and clarify provisions regarding the regulation of municipal advisors added to the Exchange Act by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

To view our Update on this action by the House, clickhere.