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
- Carol McCoog Elected to the American College of Bond Counsel
Carol McCoog has been elected a Fellow of the American College of Bond Counsel (ACBC).
- Hawkins Attorneys are part of NABL’s SEC Rule 15c2-12 Working Group
Brian Garzione, Carol McCoog and Kenneth Roberts were part of the National Association of Bond Lawyers working group, that released the paper titled “SEC Rule 15c2-12 Amendments NABL Member Questions and Practical Considerations”.
- John M. McNally Receives the NABL’ s Kiel Distinguished Service Award
The National Association of Bond Lawyers (“NABL”) is honoring John M. McNally with the Frederick O. Kiel Distinguished Service Award.
- Implementing the Rule 15c2-12 Amendments
This Advisory summarizes guidance that the SEC staff has provided to date in public forums regarding the recent Rule 15c2-12 amendments.