SEC, MSRB, and FINRA Announce Hybrid Compliance Outreach Program for Municipal Market Professionals
Author: Destiny Aigbe
July 1, 2024
The Securities and Exchange Commission (SEC), Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) have announced the opening of registration for their Compliance Outreach Program for municipal market professionals. This event, open to the public, will be held on Wednesday, November 20, and Thursday, November 21, 2024, at the Byron Rogers Federal Building in Denver, Colorado. The program offers both in-person and virtual attendance options.
PROGRAM OVERVIEW
This outreach program provides an invaluable opportunity for municipal market participants to engage directly with SEC, MSRB, and FINRA staff on current regulatory and compliance issues affecting municipal advisors and dealers. Key topics to be covered in the panel discussions include:
- Compliance challenges for municipal advisors and broker-dealers
- Examination and enforcement priorities
- Regulatory outlook
- Net capital requirements
- Federal fiduciary duty
- Post-trade monitoring
- Other current issues in the municipal market
NOTABLE SPEAKERS
- Dave Sanchez, SEC Director of the Office of Municipal Securities: “The SEC looks forward to co-hosting this meaningful Compliance Outreach Program for municipal market participants. These panel discussions address important regulatory and guidance information—much of which includes novel ideas and perspectives—that municipal market participants will find valuable both in their roles and as industry leaders.”
- Ernesto Lanza, MSRB Chief Regulatory and Policy Officer: “We are pleased to continue coordinating with the SEC and FINRA to continue an open dialogue with municipal advisors and dealers to address their top concerns and interests. This year’s program devotes time to both municipal advisors and dealers in the form of breakout sessions that will address unique issues and needs for all types of municipal market professionals, including small firms.”
- Michael Solomon, Executive Vice President, Examinations and Membership Application Program at FINRA: “The Compliance Outreach Program is a great opportunity to engage in dialogue that fosters effective regulation, improves compliance, and strengthens everyone’s understanding of the industry. We are pleased to partner with the SEC and MSRB to offer a forum where municipal market participants not only hear from their regulators but also work with them.”
REGISTRATION DETAILS
Registration for the program is now open and is being administered by FINRA. The event is free of charge and open to the public. For those unable to attend in-person or via livestream, a recording will be archived on the SEC’s webpage following the event.
To submit questions and topics of interest in advance of the event, please email: gergana.sellers@finra.org.
CONCLUSION
This Compliance Outreach Program is an excellent opportunity for municipal market professionals to stay informed about the latest regulatory updates and compliance requirements. Don’t miss the chance to engage with industry regulators and enhance your understanding of key issues affecting the municipal market
About the Author
Destiny Aigbe
Managing Partner
Aigbe Law PLLC | Dark Alpha Capital
A Corporate and Securities Law Firm
With a robust foundation in law and finance, Destiny Aigbe has carved a distinguished career, underpinned by his pivotal role in orchestrating and managing complex transactions that have propelled companies to significant growth and market prominence. As a seasoned attorney and strategic advisor, Destiny has been instrumental in facilitating over $75 million in capital raises, demonstrating a keen acumen for securing funding and fostering investor confidence.
Destiny's leadership in the execution of six successful public listings, through meticulously structured reverse mergers and registration statements, showcases his adeptness in navigating the intricacies of the public markets and his capacity to guide companies through transformative growth phases. His involvement in five mergers as an operator further illustrates his versatile skill set, extending beyond legal expertise to include hands-on management and operational strategy, though these ventures did not involve funding.
Destiny's professional journey is marked by a commitment to excellence and a diverse range of experiences, from representing a wide spectrum of clients including public and private companies, and investment firms, to holding significant roles within the US government. His tenure with the US Department of State and the National Institutes of Health highlights his adaptability and his contribution to the advancement of entrepreneurial ventures in sectors like biotechnology and nanotechnology through strategic funding initiatives.
An alumnus of Vanderbilt University Law School, Destiny focused on Finance and Mergers & Acquisitions, further honing his expertise with a certificate in Law and Business. His foundational education in Finance was obtained with honors from the University of Maryland's Robert H. Smith School of Business, which laid the groundwork for his subsequent achievements in investment banking and legal practice.
Residing in the Washington, D.C. area, Destiny Aigbe continues to leverage his extensive experience and insightful leadership to drive innovation, growth, and success for his clients and the ventures he is involved with.
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