SEC report on the Municipal Securities Market
This Advisory summarizes the key recommendations in the SEC’s July 31, 2012, Report on the Municipal Securities Market. The Report is a comprehensive analysis containing legislative and regulatory proposals to address certain disclosure and market transparency concerns.
On July 31, 2012, the United States Securities and Exchange Commission (the “SEC”) released its Report on the Municipal Securities Market (the “Report”).1 The Report is a comprehensive analysis of the municipal securities market that contains legislative and regulatory proposals to address certain disclosure and market transparency concerns. The Report is the first comprehensive analysis by the SEC (or its staff) of the municipal securities market since the September 1993 Staff Report on the Municipal Securities Market. More significantly, it represents the most comprehensive SEC legislative initiative concerning municipal securities disclosure since the Municipal Securities Full Disclosure Act of 1976.2 SEC Commissioner Elisse Walter, in introducing the Report at a press conference, cautioned that the Report would not “sit on the shelves” and that the SEC is “going to go forward with what we recommend.” Accordingly, draft legislation prepared by the SEC staff to implement the legislative proposals in the Report is likely to be released in the near future.
Also of Interest
- Hawkins Elects Alexis Harrington to Partner
Hawkins Delafield & Wood LLP is pleased to announce the election of Alexis Harrington to the partnership, effective January 1, 2019.
- Hawkins Counsel to the 2018 Northeast Deal of the Year
The Authority’s transaction marks the 20th Deal of the Year transaction that Hawkins has participated in the last 16 years.
- Rule 15c2-12 Compliance Alert
This edition of the Hawkins Advisory is a compliance alert, supplementing the Hawkins Advisory regarding Rule 15c2-12 that is dated August 22, 2018.
- Hawkins Attorneys Featured at Bond Attorneys’ Workshop
Four Hawkins attorneys will serve on panels at the National Association of Bond Lawyers 43rd annual Bond Attorneys’ Workshop which will be held September 26-28, 2018 in Chicago.