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SEC proposes rule on municipal securities disclosures

  • SEC document Image

Mar 01, 2017

The SEC has issued a proposed rule, “Proposed Amendments to Exchange Act Rule 15c2-12.”

The proposed rule is intended “to improve investor protection and enhance transparency in the municipal securities market.” The proposal would amend “the list of event notices that a broker, dealer, or municipal securities dealer acting as an underwriter in a primary offering of municipal securities subject to the Rule must reasonably determine that an issuer or obligated person has undertaken, in a written agreement for the benefit of holders of municipal securities, to provide to the Municipal Securities Rulemaking Board within ten business days of the event’s occurrence.”

Comments on the proposed rule are due by May 15, 2017.

For more in­for­ma­tion, see the press release and proposed rule on the SEC’s Web site.

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