Next generation “SaaS” Securities and Exchange Commission (SEC) regulatory disclosure service iCrowdNewswire has launched an…
State or local govt. entities and municipal bond issuers face a Dec 1st deadline to respond to the SEC© Enforcement division’s “Municipalities Continuing Disclosure Cooperation Initiative.”
The initiative is part of an increased regulatory and enforcement emphasis on the public finance market resulting from the passing of Dodd-Frank. Municipal Issuers are required to make continuing-disclosure filings of events affecting their outstanding bond issues (financial statements, ratings changes, tax shortfalls, etc.) similar to how SEC© reporting companies file disclosure on their securities. The SEC© enforcement division is on a mission to bring fraud and non-disclosure actions against those municipal issuers who falsely certified their prior disclosure compliance in subsequent bond issues.
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