SEC Modifies Municipalities Disclosure Initiative

The SEC announced that the Division of Enforcement modified its Municipalities Continuing Disclosure Cooperation ("MCDC") Initiative. In order to allow issuers and obligors more time to complete their reporting requirements, the SEC extended the deadline to self-report potential violations by changing it from September 10, 2014 to December 2, 2014.

The SEC noted that the September 10, 2014 deadline for underwriters remains unchanged.

See: Press Release; MCDC Initiative; MCDC Questionnaire.Related news: SIFMA and Other Associations Submit Comments to SEC on Structure of MCDC (July 25, 2014).