MSRB Rule G-17 Interpretive Notice
This Advisory provides a brief analysis of an MSRB interpretive notice recently approved by the SEC. The notice interprets MSRB Rule G-17 (fair dealing) to require an underwriter in a negotiated underwriting to make disclosures to the issuer as to its role, its compensation, and actual or potential material conflicts of interest.
On May 4, 2012, the Securities and Exchange Commission (the “SEC”) approved1 an interpretive notice2 (the “Notice”) of the Municipal Securities Rulemaking Board (the “MSRB”) regarding the application of MSRB Rule G-17 to municipal securities underwriters. The Notice will become effective on August 2, 2012.
Also of Interest
- Municipal Market Regulatory Update
This Hawkins Advisory describes the proposed amendments to Rule 15c2-12 and provides a summary and analysis of SEC municipal enforcement actions over the last year.
- Hawkins Assists City and County of San Francisco with Financing of 55-Story Residential Building
In December 2016, Hawkins served as disclosure counsel to the City and County of San Francisco in connection with its issuance of $240 million Variable Rate Multifamily Housing Revenue Bonds (Transbay Block 8 Tower) issued on behalf of an affiliate of the developer, Related Companies. The bonds will finance a portion of the cost of a new $600 million 55-story tower and surrounding buildings in downtown San Francisco.
- Hawkins serves as Underwriters’ Counsel in 2016 Northeast Region Deal of the Year
Hawkins Delafield & Wood LLP served as sole underwriters’ counsel on the recently completed $2.4 billion financing for LaGuardia Airport that financed the complete demolition of the existing Terminal B and reconstruction of a new replacement Terminal B.
- Hawkins serves as Underwriters’ Counsel in 2016 Southeast Region Deal of the Year
Hawkins Delafield & Wood LLP served as underwriters’ counsel in connection with the issuance of tax exempt and taxable revenue bonds by The Health and Education Facilities Board of The Metropolitan Government of Nashville and Davison County, Tennessee for the benefit of Vanderbilt University Medical Center.