The Securities and Exchange Commission (SEC) this week announced enforcement actions under its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, targeting 22 municipal bond underwriting firms for alleged due...more
10/5/2015
/ Borrowers ,
Compliance ,
Disclosure Requirements ,
Due Diligence ,
EMMA ,
Enforcement Actions ,
MCDC ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipal Securities Market ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Self-Reporting ,
Underwriting
The Securities and Exchange Commission’s (SEC’s) year-old Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative or MCDC) has encouraged municipal securities issuers, borrowers, and underwriters to...more
The deadline for municipal issuers and obligated persons to self-report to the Securities and Exchange Commission (SEC) under its Municipal Continuing Disclosure Compliance (MCDC) Initiative any recent misstatements in...more
In response to concerns raised by industry participants, the Securities and Exchange Commission (SEC) has made some modifications to its Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The SEC...more
8/1/2014
/ Disclosure Requirements ,
MCDC ,
Municipal Securities Issuers ,
Policy Violations ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Self-Reporting ,
Trade Associations ,
Underwriting
The Municipal Securities Rulemaking Board (MSRB) recently released a revised draft of Rule G-42 (Draft Rule G-42) following receipt of more than 40 comments on its Initial Draft Rule in January 2014. Rule G-42 regulates...more
Yesterday, the Securities and Exchange Commission (SEC) announced its first cease and desist order under its Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The MCDC Initiative was introduced on...more
The Municipal Securities Rulemaking Board (MSRB) recently filed a rule change to adopt MSRB Rule A-11 (Rule). The new Rule calls for a $300 fee to be assessed annually against each municipal advisor professional who is...more
Multiple news outlets have reported that the U.S. Treasury Department has created an Office of State and Local Finance tasked with monitoring the distressed local government sector of the municipal finance market. Kent...more
Yesterday, the Municipal Securities Rulemaking Board (MSRB) issued a request for comment on a supervision rule for municipal advisors, draft Rule G-44. The proposed rule contains similar concepts to Rule G-27, the MSRB’s...more
The Securities and Exchange Commission (SEC) announced yesterday that it has, for the first time, assessed a financial penalty against a municipal securities issuer. The penalty arises from a settled administrative proceeding...more
The Securities and Exchange Commission has issued a “no-action” letter relating to a provider of electronic-based “road shows.” The SEC stated in the letter, issued on January 29, 2013, that such presentations to retail...more