Your Obligation to Provide “Continuing Disclosure”
For certain municipal bond issues, a Kansas local government (city, county, school, etc.) is obligated to provide bond investors with up-to-date information about itself and the bonds that are outstanding. Typically this applies to bond issues whose original amount was over $1 million – regardless of how much is currently left outstanding.
Normally this “continuing disclosure” involves preparing an “annual report” (which includes financial and operating data) and filing it with the Municipal Securities Rulemaking Board (“MSRB”) via the Electronic Municipal Market Access system (“EMMA”) in compliance with Rule 15c2-12 of the Securities and Exchange Commission (SEC).
We Can Assist With Your “Continuing Disclosure” Obligations
Preparing the required Annual Report.
On an annual basis, we will remind you of the upcoming Annual Report due date and assist with the collection of data and the preparation and formatting of the report.
Format and file the report with EMMA/MSRB.
After receiving all data, we will properly format the Annual Report according to MSRB regulations and upload it to EMMA.
Confirm that your obligations have been fulfilled.
We will provide confirmation that the Annual Report has been filed and that your obligations have been fulfilled.
After we file the Annual Report on your behalf, it will be available to the public at the EMMA website.
The Electronic Municipal Market Access system, or EMMA, is a comprehensive, centralized online source for free access to municipal disclosures, market transparency data and educational materials about the municipal securities market.
- MSRB