1.1.5.1. Amendments to Exchange Act Section 15B
Following the 2008 economic crisis, the Senate released a report focusing on fraud in the municipal market and the role it played in the collapse. The report determined that many municipalities had been taken advantage of by unregulated advisors who marketed swaps and other derivatives products to them.
In response, Dodd-Frank amended Exchange Act Section 15B, creating the new title of municipal advisor
