X

SEC Approves Rule Change Regarding MSRB Rule G-11 Regarding Primary Offering Practices

The SEC has approved amendments to MSRB Rule G-11 ("Primary Offering Practices") to enhance protections for investors in municipal securities against unexpected changes in underlying bond-authorizing documents. The amendments generally prohibit broker-dealers and municipal securities dealers from making changes in bond authorizing documents including trust indentures and bond resolutions, subject to "carefully defined exceptions." Changes will be made effective on February 3, 2014.

See: Text of Rule Change; MSRB Regulatory Notice; Press Release.

Tags

Regulated Activities
Distribution Procedures
Sub-Activity
Syndicate Procedures
Regulated Entities
Broker-Dealers
Regulated Products
Municipal Securities
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC