Body of Law:
The MSRB reminded municipal securities dealers of an upcoming March 31, 2021 compliance date concerning the fair dealing obligations of underwriters to issuers. As previously covered, amendments to the interpretive notice on MSRB Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities") are intended to reduce disclosure burdens on underwriters, as well as the burden on issuers to acknowledge and review disclosures of risks that are (i) unlikely to materialize, (ii) not unique to a particular transaction or underwriter where a syndicate is formed or (iii) otherwise duplicative.
The SEC approved changes to an MSRB interpretive notice concerning the conduct of municipal securities underwriting activities.
The MSRB-amended proposal to update an interpretive notice on the conduct of municipal securities underwriting and municipal advisory activities was published in the Federal Register. Comments must be submitted by October 29, 2019.
The MSRB amended proposed changes to its 2012 interpretive notice concerning the conduct of municipal securities underwriting and municipal advisory activities.
Available only to Cabinet Premium subscribers.
Combining regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.