MSRB to require more continuing disclosure info from muni underwriters

By Angela McDaniels

Tacoma, Wash., Dec. 16 - The Municipal Securities Rulemaking Board will require municipal security underwriters to provide some additional information about continuing disclosure undertakings effective Feb. 14, according to an MSRB notice.

This additional information includes:

• An indication about whether the issuer or other obligated person has undertaken to provide continuing disclosures;

• The identity of any obligated persons other than the issuer; and

• The timing by which issuers or obligated persons have agreed to provide annual financial and operating data.

This information will be made available to the public through MSRB's Electronic Municipal Market Access web portal and is intended to inform investors in advance whether continuing disclosures will be made available for a particular municipal security, from and about whom such continuing disclosures are expected to be made and the timing by which such disclosures should be made available.

The additional information is required under an amendment to Rule G-32, which covers disclosures in connection with primary offerings.

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