"SEC Modifies MCDC Initiative in Response to Industry Concerns"

07.31.2014
Professionals: Sheila Kles

On July 31, 2014, the Securities and Exchange Commission extended the Municipalities Continuing Disclosure Cooperative Initiative (“MCDC”) deadline to allow issuers and obligors more time to complete their reporting requirements and, with respect to underwriters, implemented a tiered approach to civil penalties based on the size of the firm. 


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