Municipal Advisors Relief Act of 2013

Bill: 113-s-710
Sponsor: full_name: Sen. Warner, Mark R. [D-VA]
Introduced: 2013-04-11
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Financial services and investments

Securities

State and local finance
Latest action: action_date: 2013-04-11
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2013-04-11
action_desc: Introduced in Senate
text: <p>Municipal Advisors Relief Act of 2013 - Excludes from the identity of municipal advisor (subject to registration requirements) any person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity. Exempts also from registration requirements any banks, including agencies or branches of a foreign bank. </p>

tv_txt: II 113th CONGRESS 1st Session S. 710 IN THE SENATE OF THE UNITED STATES April 11, 2013 Mr. Warner (for himself, Mr. Toomey , Mr. Carper , Mr. Moran , and Mr. Johanns ) introduced the following bill; which was read twice and referred to the Committee 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) in subparagraph (A), by striking entity) and inserting entity, or a person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity) ; and (2) in subparagraph (C), by inserting after include the following: a bank (as defined in section (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 )), .