If the first half of the year is any indication, 2019 will be a very active year for municipal securities regulation and enforcement.

The most notable rulemaking event in the first quarter was the effective date of the new amendments to Rule 15c2-12. Designed to provide more transparency in the market and address the need for timely disclosure of important information related to an issuer’s or obligated person’s financial obligations, the new amendments took the issuer community by storm.

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