What is sec rule 15c2 11?
Rule 15c2-11(the “Rule”) governs the publication or submission of quotations for. securities’ in a quotation medium other than a national securities exchange. On. 17 CFR 240.15c2-11, Since its original adoption in 1971, the Rule has applied to all securities including fixed income.
What is an obligated person?
More Definitions of Obligated Person Obligated Person means Borrower or any other Person now or hereafter liable for repayment of any or all of the Obligations, whether by guaranty or otherwise.
What is a Continuing Disclosure Agreement?
Continuing disclosure consists of important information about municipal bonds that arises after the initial issuance. Continuing disclosures are intended to assist investors in determining the suitability of a bond, as well as potential risks associated with the credit of the state or local government.
Does SEC require an official statement?
SEC Rule 15c2-12 requires the Preliminary Official Statement to be “final” except for pricing and information dependent upon or determined as part of the pricing. The Preliminary Official Statement is used by the underwriters to solicit interest in the securities.
What is SEC Rule 15c?
Rule 15c2-11 applies primarily to broker-dealers that provide quotations for securities that trade on the over-the-counter (OTC) market. It also alters certain other compliance requirements and exceptions that apply to broker-dealer quotations of OTC-traded securities.
What is OTC Pink Current?
The OTC Pink, now branded as the Pink Open Market, is the lowest and most speculative tier of the three marketplaces for the trading of over-the-counter (OTC) stocks. This marketplace offers to trade in a wide range of equities through any broker and includes companies in default or financial distress.
Who regulates municipal advisors?
the Securities and Exchange Commission (SEC)
However, Congress determined that all municipal advisors, as defined by the Securities and Exchange Commission (SEC), should be subject to federal regulatory oversight, and designated the MSRB as the primary regulator responsible for implementing new rules and standards.
What are municipal advisory services?
A municipal advisor’s primary role is to provide services relating to the structure and sale of securities and to ultimately assist issuers in obtaining the lowest financing cost.
What is the EMMA website?
The Electronic Municipal Market Access (EMMA®) website is the municipal market’s free source of data and information on virtually all municipal bonds. The Municipal Securities Rulemaking Board (MSRB) operates the EMMA website to promote a transparent, fair and efficient market.
What is material events in a bond?
Material events are municipal bond issuer information considered to be significant by a reasonable investor.
What information does MuniPOINTS?
The most popular DPC DATA information product, MuniPOINTS documents are concise, descriptive summaries of municipal bond issues. They include bullet-pointed text, extracted directly from the official statements, with no analytic content. Indexed by CUSIP, MuniPOINTS fact sheets are quick to access.
Are municipal bonds registered with the SEC?
Municipal securities are exempt from federal securities registration and reporting requirements that apply to other securities being offered to the public.