• SEC Announces Second Round of Charges Against Underwrites Under MCDC Initiative
  • October 7, 2015
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • On September 30, the Securities and Exchange Commission (SEC) announced enforcement actions against 22 municipal bond underwriters, the second round of enforcement actions brought by the SEC under the Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The SEC brought these enforcement actions based on the underwriters self-reporting potential continuing disclosure-related violations of federal securities law. The SEC’s Division of Enforcement announced the MCDC Initiative, which offered standardized settlement terms to underwriters and issuers who self-reported potential securities law violations, in March 2014.