📄Insights on Municipal Securities Disclosure Compliance Requirements
Submission for OMB Review; Comment Request; Extension: Municipal Securities Disclosure (Exchange Act Rule 15c2-12)
Summary
The Securities and Exchange Commission announces a request for an extension on compliance measures under Rule 15c2-12, which governs municipal securities disclosures. The rule mandates Participating Underwriters obtain and review official statements and ensures issuers provide ongoing financial information. These measures aim to enhance market transparency and reduce fraud in municipal securities transactions.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The document outlines compliance requirements under Rule 15c2-12 related to municipal securities disclosure, impacting businesses involved in municipal securities. Participating underwriters, issuers, and broker-dealers will incur significant time and cost burdens for compliance, which may affect operational and financial commitments. Specific burdens outlined in the document highlight continuous disclosure obligations that could influence financing strategies for municipal offerings.