Lumesis, Inc has announced the launch of a new platform for municipal issuers and those serving them, including dissemination agents, bond counsel and municipal advisors. The new DIVER platform serves advisors by supporting their compliance with the MA Rule (MSRB Rule G-42).
The platform provides Issuers with a cost-effective way to determine their current year disclosure obligations and ensure they are filed on time for all required bonds. The platform features current status and required action steps along with “DIVER Alerts” to notify the issuer of approaching filing obligations. It also provides the Issuer with a comprehensive analysis of past 15c2-12 actions to help with new issue disclosures.
“This extension of the DIVER platform to serve the needs of Issuers directly, and through their trusted advisors, is the next step in achieving our vision of serving the full complement of municipal bond market constituents,” said Gregg L. Bienstock, chief executive officer of Lumesis. “With the regulatory and enforcement focus squarely on Issuer disclosure and the more substantive aspects of the MA Rule, we are pleased to deliver a cost-effective solution to meet the market’s needs.”
According to the release, municipal advisors benefit from the platform as it supports their Issuer clients in meeting filing and new issue disclosure requirements. The platform also addresses critical MA Rule documentation and fiduciary requirements with information to support recommendations.
“Whether municipal issuers manage their continuing disclosure obligations on their own or are assisted by dissemination agents, municipal advisors or counsel, we are ready to help all parties accurately and efficiently manage this process,” said Timothy Stevens, president and COO of Lumesis. “Based on requests from the market, we have incorporated features to help municipal advisors manage their important client relationships and, specifically, to aid them as they meet the requirements of G-42, the MA Rule.”
Lumesis, which was founded in 2010, also said it will be showcasing the new DIVER platform at the 111th Government Finance Officers Association (GFOA) Conference in Denver, Colo., beginning on May 21st.