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.
Attachment: [Hawkins Advisory]
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This Advisory provides a summary and analysis of the SEC’s public statement directed to issuers of municipal securities regarding disclosures about the impact of COVID-19 on their financial and operating conditions. - SEC Staff Guidance Regarding Secondary Market Disclosure
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