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New Municipal Advisor Rules and Continuing Disclosure Initiative

by Sheila Kles
Shumaker, Loop & Kendrick, LLP - Toledo Office

July 15, 2014

Previously published on July 7, 2014

In an era of increased scrutiny and regulation of the municipal market, the final rules on what constitutes, and the registra - tion of, “municipal advisors”, became effective July 1, 2014. Concurrently, the SEC initiative to encourage issuers, obligat - ed persons, such as hospitals in conduit financings (together, “issuer” or “issuers”), and underwriters to self-report possible violations of the continuing disclosure requirements of Rule 15c2-12 of the Securities Exchange Act of 1934 (the “Exchange Act”) made in prior offering documents continues to be in ef - fect until the deadline for self-reporting, September 10, 2014. Here is a brief summary of both.


The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.

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