(a) In general
There shall be in the Commission an Office of Municipal Securities, which shall—
(1) administer the rules of the Commission with respect to the practices of municipal securities brokers and dealers, municipal securities advisors, municipal securities investors, and municipal securities issuers; and
(2) coordinate with the Municipal Securities Rulemaking Board for rulemaking and enforcement actions as required by law.
(b) Director of the Office
The head of the Office of Municipal Securities shall be the Director, who shall report to the Chairman.
(c) Staffing
(1) In general
The Office of Municipal Securities shall be staffed sufficiently to carry out the requirements of this section.
(2) Requirement
The staff of the Office of Municipal Securities shall include individuals with knowledge of and expertise in municipal finance.
Codification
Section was enacted as part of the Investor Protection and Securities Reform Act of 2010 and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Securities Exchange Act of 1934 which comprises this chapter.
Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.
Definitions
For definitions of terms used in this section, see section 5301 of Title 12, Banks and Banking.
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