On February 7, 2020, the Securities and Exchange Commission’s (the “SEC”) Office of Municipal Securities released its Legal Bulletin No. 21 (the “Bulletin”) regarding the applicability of the anti-fraud provisions of the...more
On November 9, the Senate released the Joint Committee on Taxation, Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act,” which summarizes the Senate’s version of a “Tax Cuts and Jobs Act” bill (the “Senate...more
New guidelines from the Internal Revenue Service substantially overhaul safe harbors that have existed for 20 years. Specifically, the IRS recently released Revenue Procedure 2017-13 (“Rev. Proc. 2017-13”), which establishes...more
The Securities and Exchange Commission (the "SEC") recently sent a clear message to participants in the municipal markets: it intends to require a greater level of disclosure, and more timely disclosure, regarding an...more
Since 1995, the SEC’s Rule 15c-12 has, subject to a few exceptions, required the “post issuance” delivery of certain annual financial and operating information from parties that are obligated to provide for the repayment of...more