ARTICLE
4 January 2019

Federal Register: SEC Approves MSRB-Proposed Rule Change To Reporting Requirements For College Savings And ABLE Programs

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Cadwalader, Wickersham & Taft LLP

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The MSRB requested that the proposed rule change become effective on June 30, 2019.
United States Corporate/Commercial Law

The SEC approved the MSRB's proposed rule change to amend municipal fund securities reporting requirements under Form G-45. The MSRB requested that the proposed rule change become effective on June 30, 2019.

As previously covered, the MSRB seeks to amend Form G-45 to clarify data elements and to require additional data from the underwriters of college savings plans (i.e., "529 savings plans") and Achieving a Better Life Experience ("ABLE") programs. The proposed amendments would (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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