SEC Approves Amendments to Rule 15c2-12
On May 26, 2010, the Securities and Exchange Commission (SEC) unanimously approved amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 relating to municipal securities disclosure. The approved amendments were originally proposed in SEC Release No. 34-60332, and were largely approved as proposed.
At the request of the NABL Board, NABL President-elect John McNally, Hawkins, Delafield & Wood LLP, has prepared a useful summary of the amendments to Rule 15c2-12 adopted by the SEC. The summary is available here.
The Adopting Release, SEC Rel. No. 34-62184, Amendment to Municipal Securities Disclosure, is available here.
Statements of the Chairman and Commissioners at the May 26, 2010, SEC open meeting on municipal securities disclosure are available here.
The Proposing Release, SEC Rel. No. 34-60332 is available here.
NABL Comments on the Proposing Release are available here.