The Bond Dealers of America sent a letter to the SEC, urging limitations to the scope of its Municipal Continuing Disclosure Cooperation (MCDC) Initiative.
The letter, sent to the SEC Chairman and Commissioners states that the MCDC initiative has caused a financial and personnel investment by issuers and underwriters that goes beyond what is needed to achieve the goals of the SEC because its scope relies upon the now defunct NRMSIR system.
Specifically, the asks that the deadline be extended until December 15 and that the scope of the initiative is limited to access to information on the MSRB’s EMMA website, which dates back to 2009.