This podcast will focus on two recent inter-related SEC public finance enforcement actions that concern misstatements made in an official statement about an issuer’s continuing disclosure history. The first action relates to an issuer (a school district) who stated in its official statement that it had complied with its continuing disclosure undertaking, while, in fact, it had failed to make any of its required continuing disclosure filings. The second action relates to that school district’s bond underwriter whom the SEC found had failed to conduct adequate due diligence regarding the issuer’s continuing disclosure history. This podcast is intended for issuers, borrowers and other market professionals.
Listen to this podcast in mp3 format:
SEC Enforcement Actions in Public Finance (Fall 2013 Update): Disclosing Continuing Disclosure History