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15 U.S.C. § 78o–4aCommission Office of Municipal Securities

submitted 16 years ago by Pub. L. 111-203 to r/title-15-COMMERCE-AND-TRADE · 128 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law creates an Office of Municipal Securities inside the SEC. The Office enforces SEC rules for municipal securities brokers, dealers, advisors, investors, and issuers. It also works with the Municipal Securities Rulemaking Board on rulemaking and enforcement.

(a) In general The SEC must have an Office of Municipal Securities. The Office does two things. First, it enforces the SEC's rules covering how municipal securities brokers, dealers, advisors, investors, and issuers act. Second, it coordinates with the Municipal Securities Rulemaking Board whenever the law requires teamwork on rulemaking or enforcement. (b) Director of the Office A Director leads the Office. The Director reports to the SEC's Chairman. (c) Staffing The Office must have enough staff to carry out this section's work. Its staff must include people who know municipal finance and have real expertise in it.
the actual law source: uscode.house.gov ↗public domain
(a) In general

There shall be in the Commission an Office of Municipal Securities, which shall—

(1)

administer the rules of the Commission with respect to the practices of municipal securities brokers and dealers, municipal securities advisors, municipal securities investors, and municipal securities issuers; and

(2)

coordinate with the Municipal Securities Rulemaking Board for rulemaking and enforcement actions as required by law.

(b) Director of the Office

The head of the Office of Municipal Securities shall be the Director, who shall report to the Chairman.

(c) Staffing
(1) In general

The Office of Municipal Securities shall be staffed sufficiently to carry out the requirements of this section.

(2) Requirement

The staff of the Office of Municipal Securities shall include individuals with knowledge of and expertise in municipal finance.

Source credit: (Pub. L. 111–203, title IX, § 979, July 21, 2010, 124 Stat. 1926.)

history & why it existsrecord from the source credit
  • 2010Enacted · Pub. L. 111-203 · 124 Stat. 1926

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 2010-07-21.

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