SEC Announces Second Round of Charges against Underwriters under MCDC Initiative
Posted on Oct 6, 2015 in Uncategorized | Comments Off on SEC Announces Second Round of Charges against Underwriters under MCDC Initiative
On September 30, the Securities and Exchange Commission (SEC) announced enforcement actions against 22 municipal bond underwriters, the second round of enforcement actions brought by the SEC under the Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The SEC brought these enforcement actions based on the underwriters self-reporting potential continuing disclosure-related violations of federal securities law. The SEC’s Division of Enforcement announced the MCDC Initiative, which offered standardized settlement terms to underwriters and issuers who self-reported potential securities law violations, in March 2014.
