NAIPFA: It's Time to Update Rule G-23's Disclosure, Resignation Requirements

Curry, Keith D.
February 2006
Bond Buyer;2/13/2006, Vol. 355 Issue 32218, p8
Trade Publication
The article offers updates to the Municipal Securities Rulemaking Board's Rule G-23, which provides a process for disclosure and resignation when a financial adviser seeks to change roles, and become an underwriter of an issuer's debt in the U.S. The financial advisers believe that the current disclosure requirement is both inadequate and inaccurate, and the process for resigning undefined and subject to manipulation and circumvention. It offers information about the action taken by the National Association of Independent Public Finance Advisors to address the problem on the current rule.


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