The SEC is holding issuers and their officials accountable for 15c2-12 disclosure management failures. Underwriters are demanding more complete disclosure and policies, procedures and processes to gain comfort around your practices. This is the new normal when it comes to the municipal bond marketplace.
DIVER Disclosure Management tools help maximize access to capital markets and minimize regulatory risks.
Specifially, Issuers need to be able to give Underwriters and the marketplace confidence that:
- All representations in the POS/OS are accurate.
- The Issuer will comply with their 15c2-12 disclosure management requirements going forward.
We recommend the following best practices: