H.R. 5596 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5596 IN THE HOUSE OF REPRESENTATIVES June 28, 2016Mr. Hultgren introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to provide that an issuer of municipal securities is not required to retain a municipal advisor prior to issuing any such securities. 1. Short title This Act may be cited as the Municipal Advisor Choice Act. 2. Requirement for municipal advisor for issuers of municipal securities Section 15B(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o–4(d)) is amended by adding at the end the following: (3) An issuer of municipal securities shall not be required to retain a municipal advisor prior to issuing any such securities. .