Last edited by Vimuro
Monday, July 27, 2020 | History

2 edition of Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes found in the catalog.

Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes

Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes

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Published by Practising Law Institute in New York, N.Y .
Written in English

    Places:
  • United States.
    • Subjects:
    • Municipal bonds -- Law and legislation -- United States.,
    • Disclosure of information -- Law and legislation -- United States.

    • Edition Notes

      Other titlesNew municipal continuing disclosure regulations & avoiding issuer catastrophes
      Statementchair, Robert W. Doty.
      SeriesCorporate law and practice course handbook series ;, no. B-898, Corporate law and practice course handbook series ;, no. 898.
      ContributionsDoty, Robert W., Practising Law Institute.
      Classifications
      LC ClassificationsKF6775.Z9 W67 1995
      The Physical Object
      Pagination1072 p. :
      Number of Pages1072
      ID Numbers
      Open LibraryOL909659M
      ISBN 100872241912
      LC Control Number95204477
      OCLC/WorldCa32944369

      S-2 Current Continuing Disclosure Issues - Practitioners only. 53 S-3 Securities Regulatory Update. S-4 What To Do If the SEC Calls. S-5 The Underwriter Due Diligence Process. and associates, ltd. Tax Outlines. T-1 The New Money Bond Issue T-2 The Refunding Bond Issue. Drummond Woodsum has provided practical, cost-effective legal advice to municipalities for more than twenty years. Our attorneys serve as general counsel for towns and cities in Maine and New Hampshire and as special counsel for towns and cities on matters requiring particular expertise such as cable television contract negotiations, environmental law, election law, tax abatements, municipal.

        Disasters involving disease, fire, maritime catastrophes, mine explosions, airplane crashes, oil spills, and earthquakes have led to the losses of millions of dollars and hundreds, even millions, of lives. Man-made cataclysms are sometimes preventable. On occasion, they occur because of violations of existing safety laws or regulations. Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the latest updates from the SEC on Regulation Best Interest, acknowledging a growing confusion for hybrid broker-dealers (and the consumers that work with their representatives) in trying to delineate when it’s permissible to advertise as a financial advisor (or not), when a.

      Prelicensing and continuing education is required by law. Find how and where to get prelicensing and continuing education in this section. Major changes in licensing services division since including regulations, programs, fees, and such. Notices. Licensing services division notices archive since Natural catastrophes can.   A private placement is a sale of securities to a pre-selected number of individuals and institutions. Private placements are relatively unregulated compared to .


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Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes Download PDF EPUB FB2

Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes. New York, N.Y.: Practising Law Institute, © (OCoLC) Working with the new municipal continuing disclosure regulations & avoiding issuer catastrophes / chair, Robert W.

Doty. Basis of Claim: New Matter: selection, arr. and additional new material. The Municipalities Continuing Disclosure Cooperation Initiative (the “MCDC Initiative”) is intended to address potentially widespread violations of the federal securities laws by municipal issuers and underwriters of municipal securities in connection with certain representations about continuing disclosures in bond offering documents.

This week we take a look at the importance of continuing disclosure for Issuers of municipal debt and suggest some best practices. In the aftermath of the SEC’s MCDC initiative, the municipal market has taken notice of the requirements of 15c and the anti-fraud provisions of the Securities Exchange Act.

In many instances, Underwriters are spending more time and resources conducting their. On Mathe U.S. Securities and Exchange Commission’s, or SEC, Enforcement Division announced the Municipalities Continuing Disclosure Cooperation, or MCDC, Initiative to provide issuers and underwriters the opportunity to self-report instances of material misstatements in bond offering documents regarding the issuer’s prior compliance with its continuing disclosure obligations.

However, an issue arises when all other covenants on existing debt are supposed to be in a senior lien position. Due to the signed lease agreement, the debt holders no longer have senior lien status. The SEC would then require the other holders to be notified on EMMA, usually within 10 days and in accordance with existing continuing disclosure.

1 Continuing disclosure definitions are available beginning on page 2 Under SEC Rule 15c, before purchasing or selling municipal bonds in connection with a primary offering of municipal bonds with an aggregate principal amount of at least $1, underwriters must reasonably determine that the issuer.

by the issuer and/or obligated person entering into a continuing disclosure agreement By signing the agreement, the issuer indicates it will provide disclosure in the form of an annual report and notices of any material events, as defined in Rule 15c Both disclosures must be filed on EMMA.

If an issuer. GFOA Best Practices identify specific policies and procedures that contribute to improved government management. The FINRA Manual keeps investment professionals up to date on all our official regulations.

It outlines FINRA’s unique rules and guidelines, as well as our current corporate organization. It consists of two main components: Our Rules FINRA’s rules and guidelines ensure a safe and fair market.

These rules are constantly changing to adapt to new developments in the industry. Municipal securities fall into two categories: 1) municipal bonds issued by states, cities, counties and other governmental entities to raise money to build roads, schools and a host of other projects for the public good; and 2) municipal fund securities.

Municipal bonds are typically sold in minimum increments of $5, pay interest on a semi-annual basis, and have maturities that range. [Rev. 12/21/ AM] CHAPTER 78 - PRIVATE CORPORATIONS. GENERAL PROVISIONS.

NRS Definitions; construction. NRS Legislative findings and declaration regarding laws of this State governing incorporation and internal affairs of domestic corporations and directors, officers and stockholders of domestic corporations. DPH guidance for all healthcare workers: Healthcare Personnel: Occupational Exposure & Return to Work Guidance, updated May 7.

Bureau of Health Professions Licensure Licensees. On April 9, Governor Charlie Baker issued two emergency orders to further support the health care workforce and expand its capacity. The Official Statement provides disclosure about a new municipal issue to investors.

It is requested by underwriters in order to perform due diligence on the issue, and to help sell the issue by having a disclosure document available for potential customers. It is not required under the Securities Act of since municipals are exempt. “continuing disclosure,” and the written document the issuer signs is usually called the “Continuing Disclosure Undertaking” or the “Continuing Disclosure Instructions.” Municipal issuers and certain other “obligated persons” are required to post this continuing disclosure information on the Municipal Securities Rulemaking Board’s.

similarly needed public purpose property. Practicing Law Institute, "Working with the New Municipal Continuing Disclosure Regulations and Avoiding Issuer Catastrophes," PU/Corp. (June ). Federal law defines and regulates the issuance of and expenditure of the proceeds of private activity bonds.

Issuers usually call outstanding bonds when interest rates decline, and they are able to issue new bonds at lower rates of interest. The bond has 8 years of call protection. The issuer would need to make an outlay of cash to call back the bonds, but would save money because of the lower rate of interest the issuer would pay on the new bonds.

Upon learning of the compromise of the confidentiality of either the User ID or the password, an authorized e-filing user shall immediately notify the Resource Center. At its initiative or upon request, the UCS may at any time issue a new User ID or password to any authorized e-filing user.

(4) User ID and password; use by authorized person. avoid competing unfairly in markets where private and third sector enterprises can deliver more efficiently and effectively the goods and services that citizens need and want.

As a result, we believe that leaders of the SOE of the future, particularly the board of directors. And the securities they issue are extremely varied in their credit structures; it is estimated that there are over 1 million different municipal bonds outstanding compared to 60, corporate bonds.

And in alone, there were o new municipal bond issues. Under MSRB rules regarding municipal securities, a control relationship exists when I. officers or employees of a broker/dealer hold positions of authority over the municipal issuer.

II. officials of the municipal issuer hold policymaking positions at the broker/dealer. III. the municipal issuer is a public finance client of the broker/dealer. Continuing Disclosure Process SEC has stated that the 10b-5 disclosure obligations of an Issuer requiring that disclosure be accurate and complete applies to annual filings (i.e., do not omit any information if inclusion of such information would change the nature of what has been presented).

(See Exhibit III for SEC Rule 10b-5).Welcome to the California Department of Insurance (CDI) Laws and Regulations page. This page contains links to state of California insurance statutes and regulations as well as all other California statutes and regulations. Insurance companies, agents .