Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

SEC amends rules to improve municipal securities reporting

Joe Mont | August 21, 2018

The Securities and Exchange Commission has adopted amendments intended to enhance transparency in the municipal securities market. 

The adopted amendments to Rule 15c2-12 of the Securities Exchange Act will focus on material financial obligations that could impact an issuer’s liquidity, overall creditworthiness, or an existing security holder’s rights.

“Our municipal securities market is a $3.844 trillion dollar market, with new issuances of approximately $448.1 billion in 2017. Our Main Street investors are exposed to this market through many channels, including through mutual funds, money market funds, closed-end funds, and exchange-traded funds,” SEC Chairman Jay Clayton said in a statement. “Disclosures required by these rule amendments will better equip investors and intermediaries to make informed investment decisions about municipal securities.”

Rule 15c2-12 of the Securities Exchange Act requires brokers, dealers, and municipal securities dealers that...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.