United States:
MSRB Proposes Amendments To Interpretive Guidance On Municipal Securities Dealers' Disclosure Requirements
31 July 2019
Cadwalader, Wickersham & Taft LLP
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The MSRB proposed to amend its interpretive guidance
under MSRB Rule G-17 (Conduct of Municipal Securities
and Municipal Advisory Activities) related to municipal securities
and municipal advisory activities. The amendments are intended to
reduce disclosure burdens on underwriters, as well as the burden on
issuers to acknowledge and review disclosures of risks that are (i)
unlikely to materialize, (ii) not unique to a particular
transaction or underwriter where a syndicate is formed, or (iii)
otherwise duplicative.
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