S. 710: Municipal Advisors Relief Act of 2013

113th Congress, 2013–2015. Text as of Apr 11, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

II

113th CONGRESS

1st Session

S. 710

IN THE SENATE OF THE UNITED STATES

April 11, 2013

(for himself,Mr. Toomey,Mr. Carper,Mr. Moran, andMr. Johanns) introduced the following bill; which was read twice and referred to theCommittee on Banking, Housing, and Urban Affairs

A BILL

To provide for exemptions from municipal advisor registration requirements.

1.

Short title

This Act may be cited as the Municipal Advisors Relief Act of 2013 .

2.

Bank exemption from municipal advisor registration

Section 15B(e)(4) of the Securities Exchange Act of 1934( 15 U.S.C. 78o–4(e)(4) )is amended—

(1)

insubparagraph (A), by strikingentity)and insertingentity, or a person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity); and

(2)

insubparagraph (C), by inserting afterincludethe following:a bank (as defined insection (3)(a)(6)) or an agency or branch of a foreign bank (as defined in paragraphs (1)and(3), respectively, of section 1(b) of the International Banking Act of 1978(12 U.S.C. 3101)),.