United States:
SEC Enforcement Division Modifies Municipalities Disclosure Initiative
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On July 31, the SEC announced
modifications to its Municipalities
Continuing Disclosure Cooperation (MCDC)
Initiative that will (i) allow issuers and
obligors more time to complete their reporting
requirements by extending the deadline to
self-report potential violations from September 10,
2014 - December 1, 2014 and (ii) implement
atiered approach to civil penalties for
underwriters based on the size of the firm. Release.
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