SEC Office of Municipal Securities Updates FAQs for Registration of Municipal Advisors

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On July 10, 2026, the U.S. Securities and Exchange Commission announced that its Office of Municipal Securities updated its Registration of Municipal Advisors FAQs webpage to provide clarity on municipal advisor registration and recordkeeping requirements. The update addresses three areas: public-private partnership (P3) market participants determining whether their activities require municipal advisor registration; Form MA and MA-I filers assessing which remote work locations conducting municipal advisor-related business must be disclosed as an "office"; and municipal advisors considering the scope of recordkeeping requirements when advising on pricing of new municipal securities issues. The update also includes a new FAQ on registering as a municipal advisor, directing those planning municipal advisory activities—including sole proprietors—to a preexisting staff Informational Bulletin and MSRB Compliance Resource describing initial registration steps with the SEC and MSRB. The document quotes Dave A. Sanchez, Director of the Office of Municipal Securities, noting that final rules for municipal advisor registration have been in place since 2013.

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