The Securities and Exchange Commission (SEC) today announced enforcement actions against 36 municipal underwriting firms for violations in municipal bond offerings. The cases are the first brought against underwriters under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative.
The SEC’s press release on these enforcement actions can be seen here. The SEC’s orders against these underwriters can be seen here.
More enforcement actions related to MCDC are anticipated in the future. NABL will alert members when these actions have been announced by the SEC.