The SEC approved an MSRB proposal to amend certain municipal fund securities reporting requirements under Form G-45. The form amendments will become effective on June 30, 2019.
As previously covered, the MSRB is amending Form G-45 to clarify data elements and to require additional data from underwriters of college savings plans (i.e., "529 savings plans") and Achieving a Better Life Experience ("ABLE") programs (issued under the ABLE Act). The amendments (i) clarify a data element concerning the program management fee assessed by a 529 savings plan or ABLE program, (ii) add a data element concerning the closing date for investment options offered in a 529 savings plan, and (iii) delete data elements concerning annualized three-year performance information.
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