Get Specifications For The Preliminary Official Statement Submission ... - Msrb

In contrast, rule G-36(c)(i) currently requires that the underwriter send the official statement to the MSRB by the business day after the bond closing, regardless of whether the underwriter has in fact received the official statement by such day.

MSRB rule G-14 requires brokers, dealers and municipal securities dealers (dealers) to report to the MSRB their municipal securities transactions with customers each business day, effective January 1, 1998. Dealers also are required to participate in mandatory system testing with the MSRB prior to that time.

Rule 15c2-12 of the Securities Exchange Act of 1934 requires dealers, when underwriting certain types of municipal securities, to obtain certain information about the securities as well as make sure that the issuer or obligated person has agreed (in a written agreement usually referred to as a “continuing disclosure ...

Underwriters must submit the official statement to the MSRB within one business day of receipt of the official statement from the issuer, but by no later than the closing date for the offering.

The MSRB's Rule G-17, known as the “fair dealing” rule,1 sets out specific requirements that an underwriter must follow when communicating to and working with a state or local government throughout the new issuance process for municipal securities, particularly for negotiated offerings.

Rule G-27 requires, among other things, that each dealer establish and maintain a supervisory system, including written supervisory procedures, to supervise the municipal securities activities of each registered representative, registered principal and associated person that is reasonably designed to achieve compliance ...

Underwriters must submit the official statement to the MSRB within one business day of receipt of the official statement from the issuer, but by no later than the closing date for the offering.

Rule G-32 requires that firms must provide their customers copy of the official statement for an offering if a transaction occurs within the primary offering disclosure period (defined as the period beginning when the first order is submitted to the underwriter or the date the underwriter purchases the securities from ...