---
kind: "section"
citation: "15 U.S.C. § 78o–4a"
title: "15"
title_heading: "Commerce and Trade"
number: "78o–4a"
heading: "Commission Office of Municipal Securities"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/78o-4a"
units:
  - "Chapter 2B — Securities Exchanges"
---

# §78o–4a. Commission Office of Municipal Securities

- (a) **In general—** There shall be in the [Commission](/usc/15/78c.md?p=a-15) an Office of [Municipal Securities](/usc/15/78c.md?p=a-29), which shall—
  - (1) administer the rules of the [Commission](/usc/15/78c.md?p=a-15) with respect to the practices of [municipal securities brokers](/usc/15/78c.md?p=a-31) and [dealers](/usc/15/78c.md?p=a-5-A), [municipal securities](/usc/15/78c.md?p=a-29) advisors, [municipal securities](/usc/15/78c.md?p=a-29) investors, and [municipal securities](/usc/15/78c.md?p=a-29) [issuers](/usc/15/78c.md?p=a-8); and
  - (2) coordinate with the [Municipal Securities](/usc/15/78c.md?p=a-29) Rulemaking [Board](/usc/15/78c.md?p=a-73) for rulemaking and enforcement actions as required by law.
- (b) **Director of the Office—** The head of the Office of [Municipal Securities](/usc/15/78c.md?p=a-29) shall be the [Director](/usc/15/78c.md?p=a-7), who shall report to the Chairman.
- (c) **Staffing—**
  - (1) **In general—** The Office of [Municipal Securities](/usc/15/78c.md?p=a-29) shall be staffed sufficiently to carry out the requirements of this section.
  - (2) **Requirement—** The staff of the Office of [Municipal Securities](/usc/15/78c.md?p=a-29) shall include individuals with knowledge of and expertise in municipal finance.

## Source credit

(Pub. L. 111–203, title IX, § 979, July 21, 2010, 124 Stat. 1926.)

## Notes

### Editorial Notes

### Codification

Section was enacted as part of the Investor Protection and Securities Reform Act of 2010 and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Securities Exchange Act of 1934 which comprises this chapter.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.

### Definitions

For definitions of terms used in this section, see section 5301 of Title 12, Banks and Banking.