WASHINGTON — House conferees debating financial regulatory reform legislation today are expected to vote on amendments that would require the Securities and Exchange Commission to register and regulate municipal financial advisers, replacing Senate language that would give such regulatory authority to the Municipal Securities Rulemaking Board.
The proposal, pushed by House Financial Services Committee chairman Barney Frank, D-Mass., is said to reflect skepticism among House lawmakers towards self-regulators in general, though not the MSRB in particular. But it is unclear if Frank has the backing of the Senate conferees.
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