MSRB Files Amendments with SEC to Streamline New Issues Information Submission Requirements under Rules G-32 and G-34

The MSRB filed proposed amendments that would allow underwriters to satisfy certain submission requirements on disclosures in connection with primary offerings by their submission of data to the New Issue Information Dissemination Service ("NIIDS"). In addition, the proposed amendments would accomplish the following:

• revise deadlines for the submission of data to NIIDS,
• remove certain exceptions from the NIIDS submission requirements under Rule G-34 for certain short-term instruments,
• modify the Electronic Municipal Market Access (EMMA) system to include certain elements of the NIIDS data on the EMMA website,
• eliminate language describing auction rate securities as having a short "effective maturity," and
• establish certain related recordkeeping requirements under Rule G-8 on books and records.

The MSRB requested an effective date for the proposed amendments of no later than May 6, 2013, or such earlier date to be announced by the MSRB in a notice published on the MSRB website with at least a thirty-day advance notification prior to the effective date.

Click here to view regulatory notice and text of proposed rule changes (links externally to MSRB website).