Client AlertsCommercial & Public FinanceSEC Adopts Amendments to Municipal Securities Disclosure Rule 15c2-12
By Eugene G. Bernardo II and David M. DiSegna Paragraph (b)(5) of Rule 15c2-12 (17 C.F.R. 240.15c2-12) prohibits a participating underwriter from purchasing or selling municipal securities in an offering unless it has reasonably determined that an issuer or obligated person of the municipal securities has undertaken in a continuing disclosure agreement to provide certain...


