Marc Lieberman and Mark Lasee, partners in the Scottsdale office, co-authored the article “What, Me Worry? What Contributions Qualify as ‘Proceeds of Municipal Securities’ for Purposes of the Municipal Advisors Rule” in the October 2014 issue of Benefits Magazine. The article explains the SEC Municipal Advisors Rule and how it is causing uncertainty within the government plan community.

The article discusses why a government plan’s ownership of municipal securities does not cause its contributions to private equity or hedge funds to qualify as “proceeds of municipal securities.” The article goes on to describe municipal financial products, investment strategies and proceeds of municipal securities and relates the applications of these definitions within the SEC Rule.

To read the article, please click on the file below.

Lasee and Lieberman work in the public pension/alternative investments group of Kutak Rock LLP.