Time of Trade Disclosure

On May 4, the Securities and Exchange Commission issued a Public Statement, “The Importance of Disclosure for our Municipal Markets,” that encouraged municipal issuers to provide updated financial and other disclosures associated with the effects of COVID-19…

The MSRB and FINRA provided reminders regarding the municipal market’s time of trade disclosure rule (MSRB Rule G-47). The MSRB, by way of a Regulatory Notice, reminded market participants that a “Market Discount” is material and needs to be…