ARTICLE
22 December 2014

US Securities And Exchange Commission Issues Proposal On Municipal Asset-Backed Securities-Related Disclosure

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On December 1, 2014, the US Securities and Exchange Commission ("SEC") and the US Municipal Securities Rulemaking Board ("MSRB") issued a proposed rule adding municipal asset-backed securities-related disclosure required under Securities Exchange Act of 1934 Rule 15Ga-1 to the list of categories of continuing disclosures that the MSRB’s Electronic Municipal Market Access ("EMMA") will continue to accept and distribute publicly.
United States Corporate/Commercial Law

On December 1, 2014, the US Securities and Exchange Commission ("SEC") and the US Municipal Securities Rulemaking Board ("MSRB") issued a proposed rule adding municipal asset-backed securities-related disclosure required under Securities Exchange Act of 1934 Rule 15Ga-1 to the list of categories of continuing disclosures that the MSRB's Electronic Municipal Market Access ("EMMA") will continue to accept and distribute publicly. The proposed rule also makes several minor technical changes such as the removal of outdated language, updating naming conventions, among others. The MSRB filed the proposal as a non-controversial rule change that is effective upon filing. However, the proposed rule change will not be made operative before January 9, 2015. Comments on the proposed rule are due by December 26, 2014.

The SEC proposed rule is available at: http://www.gpo.gov/fdsys/pkg/FR-2014- 12-05/pdf/2014-28548.pdf.

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.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More