By James T. Giel, Attorney, Gust Rosenfeld P.L.C.
In May, the United States Securities and Exchange Commission approved changes to the continuing disclosure provisions of Rule15c2-12 (the "Rule") that will affect new agreements executed on or after December 1, 2010.
Under the current Rule, an Event Notice must be filed in a timely manner if any of 11 events occur, if those events are material. The amended Rule: Requires notices be filed within 10 business days of the occurrence of the applicable material event;
Adds 4 new events;
Modifies 7 of the original 11 events;
Changes the standard for materiality with respect to 7 of the original 11 events.
Please email Doris Harris at firstname.lastname@example.org to request a free handout outlining these changes. If you have any questions regarding continuing disclosure requirements, please contact any Gust Rosenfeld Public Finance attorney.
James T. Giel - 602.257.7495 - email@example.com
Jim practices in the area of public finance.