Series 52: 3.2.1.2. Continuing Disclosure Agreement

Taken from our Series 52 Online Guide

3.2.1.2. Continuing Disclosure Agreement

Underwriters are also obligated by SEC Rule 15c2-12 to receive a continuing disclosure agreement from the issuer prior to making a bid or accepting a sale. This is an agreement to provide continuing disclosure of information relevant to the market value of the bonds throughout their life. The agreement is signed by the issuer and any other entity that is committed contractually to support payment of the bond obligation.

In the continuing disclosure agreement, the issuer commits to provide financial and operating information annually on a specified date and audited annual financial statements to the MSRB. The issuer must also notify the MSRB within 10 business days if certain significant events occur, such as:

Principal and interest payment delinquencies

Defaults

Adverse tax opinions affecting the tax-exempt status of the bonds

Modif

Since you're reading about Series 52: 3.2.1.2. Continuing Disclosure Agreement, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 52
Please Enable Javascript
to view this content!