Ballard Spahr recently co-sponsored the Utah Municipal Issuers' Seminar, drawing more than 150 issuers. Utah Treasurer Richard Ellis hosted the event, at which he pushed for the state's issuers to learn more about the Securities and Exchange Commission's Municipalities Continuing Disclosure Cooperation initiative, or MCDC.

Regulators are increasingly expecting state treasurers to help municipalities comply with their continuing disclosure obligations. Staff turnover and lack of knowledge of securities law have made it tough for many issuers to comply. Bradley D. Patterson, a public finance partner at Ballard Spahr, told The Bond Buyer: "These things don't necessarily come to their attention. They were really not aware of the MCDC program."

Mr. Patterson said a panel discussion on the MCDC provided attendees with an overview of the program and outlined ways to determine whether participation in it might be suitable for them.

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