II 112th CONGRESS 2d Session S. 3492 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.

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)),.