"New Municipal Advisor Rules and Continuing Disclosure Initiative"

Professionals: Sheila Kles

In an era of increased scrutiny and regulation of the municipal market, the final rules on what constitutes, and the registration of, “municipal advisors”, became effective July 1, 2014.  Concurrently, the SEC initiative to encourage issuers, obligated persons, such as hospitals in conduit financings (together, “issuer” or “issuers”), and underwriters to self-report possible violations of the continuing disclosure requirements of Rule 15c2-12 of the Securities Exchange Act of 1934 (the “Exchange Act”) made in prior offering documents continues to be in effect until the deadline for self-reporting, September 10, 2014.  Attached is a brief summary of both. 


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