Feb 4, 2021 | Disclosure Notes
Municipal issuers and market participants with exposure to LIBOR should review potential risks and consider appropriate disclosures to the market. The transition from the London Interbank Offered Rate (“LIBOR”), the reference rate utilized in countless financial...
May 28, 2020 | Disclosure Notes
On May 4, 2020, the Chairman of the Securities and Exchange Commission (SEC) and the Director of the Office of Municipal Securities released a joint Public Statement entitled “The Importance of Disclosure for Our Municipal Markets.” In the Public Statement, Chairman...
Mar 23, 2020 | Disclosure Notes
The spread of Severe Acute Respiratory Syndrome 2 (commonly referred to as the “coronavirus”) in the United States, and the resulting disease known as COVID-19, has resulted in massive disruptions to daily activities and limited the ability of many municipal issuers...
Feb 18, 2020 | Disclosure Notes
Staff of the Securities and Exchange Commission’s Office of Municipal Securities (“OMS”) released a Legal Bulletin (the “Legal Bulletin”) on February 7, 2020, expressing OMS staff’s views on the application of the antifraud provisions of the federal securities laws...
Feb 26, 2019 | Disclosure Notes
Following an August 2018 rule change by the Securities and Exchange Commission, municipal issuers, conduit borrowers and other “obligated persons” will be required to file an event notice with EMMA for the incurrence of certain material “financial obligations” and for...
Feb 19, 2019 | Disclosure Notes
The recent amendments to SEC Rule 15c2-12 (the “Rule”), which must be incorporated into continuing disclosure undertakings effective on or after February 27, 2019, have caused municipal underwriting firms to review existing due diligence processes and procedures. In...
