06/09/2010 03:37:00 PM EST
Summary of Recent Amendments to SEC Rule 15c2-12
by Halle R. Alexander, Bruce H. Giles-Klein, and John
Overdorff of Greenberg Traurig
On May 26, the Securities and Exchange Commission (SEC)
unanimously approved amendments to its Rule 15c2-12 that will expand the
continuing disclosure obligations of issuers of municipal securities. The
amendments will apply to continuing disclosure agreements entered into in
connection with primary offerings of municipal securities that occur on or
after December 1, 2010. This Alert provides a brief summary of the amendments
to the Rule. Issuers and obligated parties should be aware that their
historical disclosure practices will need to change in light of the amendments
to the Rule.
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