The MSRB proposal to more prominently display certain financial disclosures and related information on the organization's Electronic Municipal Market Access system was published in the Federal Register.
Cadwalader attorneys analyzed a recent Illinois Circuit Court decision denying a petition filed by a political activist and a hedge fund claiming that $16 billion of Illinois's general obligation bonds violated the state constitution.
State Attorneys General have stepped into what they describe as a "void" in antitrust enforcement at the federal level. Cadwalader attorneys surveyed recent high-profile state antitrust enforcement actions.
The MSRB provided additional support to help market participants comply with rules that require municipal securities issuers and obligated persons to disclose material financial obligations to investors.
SEC Chair Jay Clayton said he directed the SEC Office of Municipal Securities to collaborate with the MSRB and other stakeholders to explore how broker-dealers can improve the timeliness and scope of issuer financial information.