FINRA, other regulators to hold hybrid compliance outreach program

On Monday, FINRA announced it was working with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) to hold a Compliance Outreach Program for municipal market professionals.

The event, held both in-person and virtually, will take place on Nov. 20 and 21 in Denver, Col., and provide municipal market participant the opportunity to hear from staff members at the three agencies about regulatory and compliance matters for municipal advisors and dealers. Panel topics will include compliance pain points for municipal advisors and broker-dealers, exam and enforcement priorities, regulatory outlooks, net capital requirements, federal fiduciary duty, and other municipal market key topics.

“The SEC looks forward to co-hosting this meaningful Compliance Outreach Program for municipal market participants,” Dave Sanchez, SEC Director of the Office of Municipal Securities, said. “These panel discussions address important regulatory and guidance information—much of which includes novel ideas and perspective—that municipal market participants will find valuable both in their roles and as industry leaders.”

FINRA will manage registration via its website. The program is free and open to the public, and a recording of the event will be made available on the SEC’s webpage for those unable to attend either virtually or in-person.

“We are pleased to continue coordinating with the SEC and FINRA to continue an open dialogue with municipal advisors and dealers to address their top concerns and interests,” Ernesto Lanza, MSRB Chief Regulatory and Policy Officer, said. “This year’s program devotes time to both municipal advisors and dealers in the form of breakout sessions that will address unique issues and needs for all types of municipal market professionals, including small firms.”

Participants are encouraged to send questions in advance of the event.

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