New Bill Would Clarify Advisor Role to Issuers
Section: Washington Update

Rep. Randy Hultgren (R-IL) has introduced new legislation that would clarify the relationship between issuers of municipal securities and their municipal advisors. His bill, the Municipal Advisor Choice Act (H.R. 5596), would amend the U.S. Securities Exchange Act of 1934 to provide that an issuer of municipal securities is not required to retain a municipal advisor prior to issuing any such securities. The bill has been referred to the House Financial Services committee and has no cosponsors at this time.