The Dodd-Frank Reform Act obligates the SEC to establish an Office of Municipal Securities, whose director reports directly to Chairman Schapiro.  The SEC anticipates creating this office imminently and transferring over existing staff who perform these duties.  And, according to SEC Commissioner Elisse Walter, the search for a new director is ... in full swing.

Ms. Walter believes that the office will be in an excellent position to harness staff and resources from across the Commission who are involved in the municipal securities market from a variety of vantage points.  The new office will administer the rules pertaining to broker-dealers, advisors, investors, and issuers of municipal securities and coordinate with the MSRB on rulemaking and enforcement actions. 

[C-I Note:  This was perhaps a well-kept secret, or we're sniffing around the wrong trees.  Anyway, we'll report on developments and will continue to let you know about the increasing attention Congressional and Regulatory leaders are paying to municipals.]   [SEC Comm. Walter's Speech, 10/29]