An MSRB proposal amending interpretive guidance on certain disclosure obligations for municipal securities and municipal advisory activities was published in the Federal Register. Comments must be submitted by August 30, 2019.
As previously covered, the amendments to MSRB Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities") are intended to reduce disclosure burdens on underwriters, as well as the burden on issuers to acknowledge and review disclosures of risks that are (i) unlikely to materialize, (ii) not unique to a particular transaction or underwriter where a syndicate is formed, or (iii) otherwise duplicative.
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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