Before And After — Amending SEC Rule 15c2-12

Law360, New York (July 22, 2010, 11:30 AM EDT) -- U.S. Securities and Exchange Commission Rule 15c2-12, adopted in 1989 and amended in 1994, requires underwriters in primary offerings of municipal securities to obtain agreements from issuers of such securities to provide continuing disclosure to the municipal market while the securities are outstanding.

Specifically, the rule requires underwriters to obtain agreements from issuers to provide annual financial information as well as notices of certain events that could affect the security for, or tax status of, the obligations.

On May 26, 2010, the SEC adopted revisions to...
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