[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3492 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3492

     To provide for exemptions from municipal advisor registration 
                             requirements.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 2, 2012

  Mr. Toomey (for himself, Mr. Carper, Mr. Moran, and Mrs. McCaskill) 
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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. 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)),''.
                                 <all>