AICPA tries to narrow definition of municipal advisor

Published September 13, 2012 11:50 AM EDT Updated December 2, 2015 5:09 PM EST 2 Min Read

The American Institute of CPAs has sent a letter to members of the House Financial Services Committee supporting a bill aimed at narrowing the definition of “municipal advisor,” without weakening investor protections.

The Financial Services Committee is expected to mark up the bill, H.R. 2827, on Wednesday. The bill would require people who provide financial advice to municipal entities to register with the Securities and Exchange Commission, but the AICPA hopes to exempt CPAs from that requirement.

Michael Cohn

Editor-in-chief, AccountingToday.com

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for … Read full bio

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