Every continuing disclosure undertaking entered into under Section (b)(5)(i) of Rule 15c2-12 (the “Rule”) of the Securities and Exchange Commission (“SEC”) requires the issuer or obligated person (as defined in the Rule)...more
As reported in our October 10, 2018 alert, the Securities and Exchange Commission has amended Rule 15c2-12 (the "Rule"), which governs continuing disclosure by state and local governmental borrowers to add two new material...more
Issuers or obligated persons (together, an "Issuer") of municipal securities will be required to add two new events to the list of reportable material events in their continuing disclosure undertakings entered into after...more
Municipal securities issuers have the opportunity to self-report material misstatements in official statements regarding prior compliance with continuing disclosure undertakings under a new initiative introduced by the...more
The U.S. Securities and Exchange Commission Enforcement Division recently announced a program intended to resolve violations of federal securities laws regarding continuing disclosures in bond offering documents. The program,...more
Last fall, the federal Securities Exchange Commission (SEC) issued new rules (Rule) regulating municipal advisors and underwriters, now scheduled to become effective July 1, 2014.
In 2010, President Obama signed into...more
On January 9, 2014 the Municipal Securities Rulemaking Board (MSRB) issued proposed Rule G-42 on the standards of conduct and duties of municipal advisors when engaging in municipal advisory activities other than making...more