United States:
Update On Municipalities Continuing Disclosure Cooperation Initiative
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On March 10, 2014, the Securities and Exchange Commission
("SEC") announced that issuers and underwriters of
municipal securities may voluntarily report materially inaccurate
statements made in offering documents regarding prior continuing
disclosure compliance through a program called the Municipalities
Continuing Disclosure Cooperation Initiative (the "MCDC
Initiative").
Orrick and BLX Group have issued
a client alert with key information.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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