Securities Law and Disclosure

While We Were Out
We took a break from the Wrap while Congress adjourned for August recess, but this month was nonetheless a busy one. Catch up quickly on updates from while we were…

What’s the Risk? Considerations in Drafting Risk Factors Disclosures
A discussion session on NABL’s newest report examining legal considerations pertaining to risk factors disclosure was held on August 23, 2023.

What’s the Risk? Considerations in Drafting Risk Factors Disclosures
Join the Securities Law and Disclosure Committee (SLDC) on August 23 for a discussion session on NABL’s newest report examining legal considerations pertaining to risk factors disclosure.

Understanding the Debt Ceiling
What are the debt ceiling and federal downgrades, and what do they mean for municipal bonds.

ESG Month in Washington
House Republicans have launched a month-long focus on Environmental, Social, and Governance (ESG) factors in financial markets. Here’s what we know.

Disclosing Risk Factors in Municipal Securities Offerings
Paper exploring legal and practical considerations in identifying and disclosing risk factors in offerings of municipal securities, and developing policies and procedures for disclosing such factors.

Input on Municipal Disclosure Guidance
NABL is again considering seeking additional guidance on municipal disclosure obligations and updates to the U.S. Securities and Exchange Commission’s (SEC’s) 1994 Interpretive Release.

NABL Goes to Washington
A recap of the Board of Director’s advocacy meetings in Washington, D.C. on May 17 – 19.

Refunding and Reissuance, Real World Examples [The Essentials 2023]
Discussion of hypotheticals that involve the application of certain federal tax laws relating to refundings, including the repeal of tax-exempt advance refundings, as well as reissuance.

Underwriting Behind the Scenes [The Essentials 2023]
Introduction to and discussion of the underwriting process, including all aspects of structuring the deal through taking the municipal bonds to market.

The Role of the Issuer’s Counsel [The Essentials 2023]
Overview of the role of, responsibilities, and expectations imposed on issuer’s counsel in a municipal bond transaction.