The U.S. Securities and Exchange Commission’s (the “SEC”) Rule 15c2-12 (the “Rule”) requires an underwriter in a primary offering of certain municipal securities to reasonably determine that an issuer or obligated person (as...more
On May 4, 2020, the U.S. Securities and Exchange Commission (the “SEC”) released a Public Statement (the “Statement”) from Chairman Jay Clayton and Rebecca Olsen, Director of the SEC’s Office of Municipal Securities (“OMS”),...more
On August 20, 2018, the Securities and Exchange Commission (“SEC”) issued Release No. 34-83885 (the “Release”) adding two new events (the “New Events”) to the list of events that must be included in the continuing disclosure...more
8/30/2018
/ Amended Rules ,
Broker-Dealer ,
Compliance Dates ,
Disclosure Requirements ,
EMMA ,
Financial Obligations ,
MCDC ,
MSRB ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipalities ,
Rule 10b-5 ,
Rule 15c2-12 ,
Securities and Exchange Commission (SEC)
On March 1, 2017, the Securities and Exchange Commission (“SEC”) issued Release No. 34-80130 (the “Release”) proposing several amendments to its Rule 15c2-12 (the “Rule”) that would add two new events to the list of events...more
3/14/2017
/ Annual Statements ,
Broker-Dealer ,
Disclosure Requirements ,
EMMA ,
Financial Statements ,
MSRB ,
Municipal Bonds ,
Municipal Securities Issuers ,
OMB ,
Proposed Amendments ,
Public Comment ,
Securities and Exchange Commission (SEC)
As highlighted in the SEC’s 2012 Municipal Market Report, the SEC has expressed significant concern that many issuers have not been complying with their obligation to file continuing disclosure documents and that federal...more
As highlighted in the SEC’s 2012 Municipal Market Report, the SEC has expressed significant concern that many issuers have not been complying with their obligation to file continuing disclosure documents and that federal...more
Recently, the SEC settled with the City of Harrisburg (City) over violations of Rule 10b-5 in connection with material misstatements and omissions made by the City in its public statements and financial information, during a...more
Participants in the municipal securities market should take particular interest in the appointment of Elisse B. Walter as chair of the SEC. Her close association with regulation of the municipal securities market makes it...more