Raising the Bar for Municipal Disclosure
How new Federal requirements and investor demands are re-shaping the landscape
Bondbuyer Webinars, December 19, 2012
Duration: 1 Hour
The SEC, rating agencies, underwriters and investors are all finally getting serious about municipal disclosure -- with new incentives and penalties that make it more important than ever for the public sector to communicate clearly, quickly, and correctly.
Join Orrick and The Bond Buyer for a new web seminar that will explain the shifting landscape and provide practical tips for building a best-of-class disclosure program.
Faced with credit-ratings turmoil and growing long-term pension liabilities, municipal bond investors are applying greater scrutiny to new deals than ever before. In that environment, issuers are increasingly finding that providing excellent disclosure can pay off with a deeper base of buyers for their deals ... and lead to lower interest rates.
If that carrot isn't enough, consider the stick: The Securities and Exchange Commission is stepping up its enforcement efforts against inadequate financial disclosures by the public sector ... and is even contemplating rules that could close the markets altogether to issuers who repeatedly fail to meet their contractual disclosure agreements.
Don't get shut out. In this one-hour web seminar, you'll learn:
- The Mechanics of Disclosure: What needs to be disclosed, when, and how do you make sure investors get the news?
- How the Securities and Exchange Commission's role in the municipal bond market was transformed by the Dodd-Frank Act...and what changes are still to come.
- What is the Municipal Securities Rulemaking Board and why is it more important for issuers?
- PLUS, tips on how to develop and implement best practices for disclosure...and continuing professional education credits for CPAs, just in time for the end-of-year rush!
Robert Feyer, Partner, Public Finance Department, Orrick, Herrington & Sutcliffe LLP
Kevin Roche, Partner, Public Finance Department, Orrick, Herrington & Sutcliffe LLP
Jay Goldstone, Chief Operating Officer and Chief Financial Officer, City of San Diego, California
John Cross, Director of Office of Municipal Securities, Securities and Exchange Commission, Washington DC
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