S. 710 — Introduced in Senate

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)),.