The COVID Project
The record
- Jurisdiction
- United States; Securities and Exchange Commission (federal)
- Level
- Federal
- Authority
- 15 U.S.C. § 78mm(a)(1)
- Issued
- 2020-06-16 June 16, 2020
- Effective
- 2020-06-16
- End
- 2020-12-31
- In force
- June 16, 2020 to Dec. 31, 2020
- Quarters
- 2020 Q22020 Q32020 Q4
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- registered municipal advisors
- municipal issuers
- banks and other qualified providers of direct placements
- Functions reached
- WM municipal advisory
- BL bank direct placements
- CB municipal issuers under revenue stress
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
ACTION: Temporary Exemptive Order.... [The Commission is granting a] temporary conditional exemption from broker registration under Section 15 of the Securities Exchange Act of 1934 ('Exchange Act') for registered municipal advisors to address disruption [in the municipal securities market caused by the COVID-19] pandemic. The temporary conditional exemption permits registered municipal advisors to solicit [banks and other qualified providers in connection with direct placements of municipal securities]. DATES: This exemptive order is effective from the date of this Order until December 31, 2020.
Enforcement
Conditional exemption from 15 U.S.C. § 78o(a)
Notes
Reached banks' municipal lending desks and municipal advisors serving closed local governments