SIFMA Submits Comments to SEC on Revised Exchange Act Rule Relating to Municipal Disclosure

SIFMA submitted a letter in response to the SEC's revised request for comments regarding Exchange Act Rule 15c2-12.

SIFMA expressed its concern about what it considers to be "gross inaccuracies" in the Current Notice and the Original Notice of the SEC's time estimates for compliance with the rule. In addition, SIFMA noted what it characterized as the "failure of the SEC to estimate the [r]ule's primary disclosure compliance burdens, as separate and distinct from its secondary market compliance burdens."

See: SIFMA Comment Letter.See also: MSRB Urges SEC to Revisit Municipal Securities Market Disclosure Rule (Jan. 20, 2015); SEC Commissioner Aguilar Discusses Municipal Markets (with Lofchie Comment).