8/22/2014

The Securities and Exchange Commission plans over the next two years to examine a "significant percentage" of firms registered as municipal advisers. The exams will help the SEC "establish a presence" with the newly registered advisers, the agency's Office of Compliance Inspections and Examinations said. They will cover advisers' fiduciary duty to municipal clients, record-keeping obligations, and employee qualifications and training, among other things.

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