SIFMA Submits Comments to the MSRB on Underwriters Submitting 529 College Savings Plan Information

SIFMA commented on the MSRB's revised draft rule requiring underwriters to submit 529 college savings plan information to the MSRB, MSRB Notice 2012-59. SIFMA began by applauding the revisions to the original proposal including: reducing the reporting frequency from quarterly to semiannually; providing filers a 60-day lag time to report the semi-annual information; providing filers an implementation period of at least one year following approval by the SEC; and revising certain terms and definitions. However, SIFMA continues to have concerns with aspects of the proposal, including as to the confidentiality of the information and the format in which the information is provided.

View comments in full here (links externally to SIFMA website).