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SEC posts link to remarks from 2026 Joint Compliance Outreach Program for municipal market participants

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Key takeaways

Follow Up Questions

Who is "Sanchez" referenced in the link and what is their role at the SEC?Expand

Dave A. Sanchez — he is the Director of the U.S. Securities and Exchange Commission’s Office of Municipal Securities (appointed April 2022) and is the speaker identified by the “sanchez” path in the URL.

What is the Joint Compliance Outreach Program and which organizations typically participate?Expand

A free, virtual two‑day compliance-outreach program jointly run by the SEC, FINRA and the MSRB that provides regulatory and compliance briefings for municipal-market professionals (e.g., municipal advisors, dealers/underwriters, issuer officials, counsel and compliance staff).

Who are considered "municipal market participants" under SEC guidance?Expand

Generally: municipal issuers/obligated persons, municipal advisors, municipal securities dealers (broker‑dealers/underwriters), and other municipal-market professionals (counsel, finance officers, compliance officers). Event descriptions from the SEC/MSRB/FINRA use the same categories.

Where can I find the full text of the remarks and any accompanying slides or materials?Expand

On the SEC newsroom listing for this event the full remarks and materials are posted at the linked SEC speeches page; the item’s link (and the SEC speeches page) contains the full text and any accompanying slides or materials when published.

Which SEC rules or obligations are commonly emphasized in these municipal compliance outreach events?Expand

Common topics emphasized at these outreach events include securities-law disclosure and anti‑fraud obligations (materiality), MSRB rules on priority and pricing (e.g., fair access/priority of orders), municipal advisor and dealer compliance obligations, conflicts of interest (including conduit/JPA concerns), and climate/environmental risk disclosure practices.

Will guidance from this outreach change compliance requirements for municipal issuers, advisors, or underwriters?Expand

No — outreach remarks provide guidance, examples and supervisory priorities but do not by themselves change regulatory requirements. Compliance obligations change only through rulemaking, interpretive releases or formal rule enforcement; however, outreach signals enforcement priorities and may prompt market participants to alter practices to meet expectations.

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