MSRB Rule G-17 Interpretive Notice

05.22.2012

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 — Federal Securities Law Update (2022)
    This Hawkins Advisory provides an update on the municipal securities market and related federal securities law regulation. In particular, this Advisory reviews (i) the current composition of the Securities and Exchange Commission (the “SEC”) and its regulatory priorities; (ii) the SEC’s proposed rules on climate change disclosure and other environmental, social, and governance (“ESG”) initiatives; (iii) developments in cybersecurity disclosure; and (iv) recent SEC enforcement actions in the municipal securities market.
  • Federal Legislation Moves SOFR Closer
    This edition of  the Hawkins Advisory discusses the recent federal legislation signed into law on March 15, 2022.
  • Final Treasury Reissuance Regulations Addressing Modifications of Debt Instruments to Replace IBORs
    This edition of the Hawkins Advisory describes recently released final Treasury Regulations providing guidance in connection with the discontinued Interbank Offered Rates.
  • Hawkins Served as Counsel to Two Bond Buyer Deal of the Year Winning Transactions
    Hawkins is proud to have served as special and lead outside counsel on two financings that were finalists for The Bond Buyer deal of the year award for 2021 and winners in their respective categories. This year’s deals reflect the substantial expertise of Hawkins’ transportation industry attorneys.