SEC Agrees to End Muni Testing Exemptions

Hume, Lynn
October 2004
Bond Buyer;10/26/2004, Vol. 350 Issue 31997, p7
Trade Publication
The article reports that the U.S. Securities and Exchange Commission has approved a change to the Municipal Securities Rulemaking Board's Rule G-3 on professional qualifications that requires all registered municipal market participants to be tested periodically on the regulatory portion of the board's continuing education program. But the Securities Industry/Regulatory Council on Continuing Education, a group of about 20 individuals representing self-regulatory organizations and other industry officials from the market, decided late last year that the exemptions should be repealed so that everyone receives training regarding new products, trading strategies, and regulatory concerns.


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