Municipal Securities Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act
By: Stacey H. Crawshaw-Lewis, Deanna L. S. Gregory, Carol Juang McCoog
On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The Dodd-Frank Act includes several provisions of potential interest to participants in the municipal bond market. The Dodd-Frank Act will require registration and regulation of previously unregulated swap and other municipal advisors. The Dodd-Frank Act also addresses the composition and authority of the Municipal Securities Rulemaking Board (the “MSRB”) and funding of the Governmental Accounting Standards Board (“GASB”). Finally, the Dodd-Frank Act directs a number of studies regarding the municipal securities market, including a study to address “the advisability of the repeal or retention of” the Tower Amendment.
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This client alert is part of a series of alerts focused on monitoring financial regulatory reform. Below is a list of other alerts in the series:
Financial Reform Bill Strengthens Regulation, Expands Potential Liability of Credit Rating Agencies - July 22, 2010
Congressional Overhaul of the Derivatives Market in the United States - July 21, 2010
Dodd-Frank Act Includes Immediate Change to 'Accredited Investor' Definition for Natural Persons - July 21, 2010
A New Era: Depository Institutions and Their Holding Companies Face a Deluge of Regulatory Changes - July 20, 2010
HVCC's Sunset and Other Appraisal Reforms on the Horizon - July 19, 2010
The Resolution of Systemically Important Nonbank Financial Companies… Will It Work? - July 16, 2010
Loan Servicing Déjà Vu - July 14, 2010
Financial Regulatory Reform Increases Federal Involvement in Insurance - July 13, 2010
Preemption for National Banks and Federal Thrifts After Dodd-Frank: Answers to the Ten Most Asked Questions - July 9, 2010
Increased Regulation of U.S. and Non-U.S. Private Fund Advisers Under the Dodd-Frank Act - July 9, 2010
Hope You Like Plain Vanilla! Mortgage Reform and Anti-Predatory Lending Act (Title XIV) - July 8, 2010
Consumer Financial Services Industry, Meet Your New Regulator - July 7, 2010
New Executive Compensation and Governance Requirements in Financial Reform Legislation - July 7, 2010
Financial Regulatory Reform - The Next Chapter: Unprecedented Rulemaking and Congressional Activity - July 7, 2010
Investor Protection Provisions of Dodd-Frank - July 1, 2010
Senate Financial Reform Bill Would Dramatically Step Up Regulation of U.S. and Non-U.S. Private Fund Advisers - June 8, 2010
Approaching the Home Stretch: Senate Passes “Restoring American Financial Stability Act of 2010” - June 8, 2010
