SEC issues no-action letter on internet-based ‘road shows’ *

USA - February 12 2013
The Securities and Exchange Commission has issued a "no-action" letter relating to a provider of electronic-based "road shows." The SEC stated in the…

Co-authors: Randall J. Towers .

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Underwriters of municipal securities subject to new fair dealing liability under federal securities laws *

USA - August 2 2012
Effective today, underwriters are subject to newly-adopted Municipal Securities Rulemaking Board (MSRB) regulations governing “fair dealing” under MSRB Rule G-17.

Co-authors: John C. Grugan, Tesia N. Stanley .

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MSRB adopts new fair dealing requirements for underwriters *

USA - May 8 2012
Municipal securities underwriters will be subject to newly adopted Municipal Securities Rulemaking Board (MSRB) regulations governing “fair dealing” beginning in August 2012.

Co-authors: Darci L. Stephens , Tesia N. Stanley .

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MSRB seeks enhanced regulation of broker's brokers *

USA - March 8 2012
The Municipal Securities Rulemaking Board (MSRB) has proposed enhancing the pricing and related obligations of broker’s brokers—an important source of secondary market liquidity for investors in municipal securities—along with those of the dealers that use their services.

Co-authors: Darci L. Stephens , Tesia N. Stanley .

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MSRB makes recommendations to SEC on disclosure practices *

USA - September 8 2011
Continuing a trend by market regulators to bring consistent and enhanced disclosure to bond market investors, the MSRB has recommended several changes to the Securities and Exchange Commission’s 1994 Interpretive Release on Municipal Securities Disclosure Obligations and its rules—particularly SEC Rule 15c2-12, governing primary and secondary market disclosure in the $3 trillion municipal bond market.

Co-authors: William C. Rhodes .

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