Underwriters' exemption from MA registration rule questioned

The Securities and Exchange Commission recently outlined its municipal advisor registration rule, which includes an exemption for underwriters. Broker-dealers are raising concerns that the rule could prevent would-be underwriters from making suggestions to issuers. "This final rule does present some problems," said Leslie Norwood, associate general counsel and co-head of municipal securities at SIFMA. Read SIFMA's comments to the SEC about the municipal advisor rules.

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Bond Buyer (special access for readers of SIFMA SmartBrief), The

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