Posts tagged MCDC Initiative.
The SEC announced July 8 its first settled administrative proceeding against a municipal issuer under its Municipal Continuing Disclosure Cooperation ("MCDC") Initiative. In its Order, the SEC charged Kings Canyon Joint Unified School District with violating '33 Act § 17(a)(2) by making an untrue statement of material fact in a 2010 bond offering that the District had complied with prior continuing-financial-disclosure obligations (required by Rule 15c2-12) undertaken in other bond offerings sold in 2006 and 2007. The District certified it had complied with those ...
Posted in: SEC