The MSRB proposed amendments to MSRB Rule G-32 (“Disclosures In Connection With Primary Offerings”) to standardize deadlines for underwriters to submit information on Form G-32 for all types of offerings.
The amendments would require underwriters to populate certain data on the form in the Electronic Municipal Market Access Dataport system by the close of business on the first execution date. Certain other information would not be required until the close on the settlement date. The MSRB said that the proposal does not alter what data needs to be submitted and would standardize the deadline for data submission, which would streamline the submission process and mitigate the burden placed on underwriters.
The MSRB requested feedback on specific areas of the proposal, but said that it will accept all comments until January 17, 2023.
Fried Frank Harris Shriver & Jacobson LLP
November 11 2022