WASHINGTON — The Securities and Exchange Commission plans to vote on proposed changes to its Rule 15c2-12 on municipal market disclosure at an open meeting May 26, according to a notice the SEC released Tuesday evening.
“The commission will consider a recommendation to adopt amendments to Rule 15c2-12 under the Securities Exchange Act of 1934, a rule pertaining to municipal securities disclosure,” the brief notice said. It added that the SEC would also address related interpretive guidance to assist dealers in meeting their obligations under the antifraud provisions of the federal securities laws.
The changes to 15c2-12 and related interpretive guidance were originally proposed in July.
They would generally expand on the quantity and timeliness of events that issuers must disclose on an ongoing basis, as well as remove an exemption from continuing disclosure requirements for variable-rate demand obligations.
