[Local-Gov-News] Oregon State Treasury | Cash Management News

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Cash Management News

Rule Amendment Proposals Affecting Local Government Debt
If implemented, the two rule amendment proposals discussed below are likely to have significant impacts on municipalities and their debt issuance processes, specifically for private placements and bank loans. In addition to being reminded of existing responsibilities, we encourage learning about these possible changes.

MSRB Rule G-34
The Municipal Securities Rulemaking Board (MSRB) recently requested comments on proposed amendments to Rule G-34, which governs CUSIP number requirements for municipal bonds and other privately placed/direct purchase obligations. For more information, read Nixon Peabody’s public article, “Proposed Amendment to MSRB Rule G-34 Clarifying CUSIP Requirements in Private Placements<https://www.nixonpeabody.com/en/ideas/articles/2017/03/14/proposed-amendment-to-msrb-rule-g-34-clarifying-cusip-requirements-in-private-placements>,” and the MSRB’s Rule G-34 Overview<http://www.msrb.org/Rules-and-Interpretations/MSRB-Rules/General/Rule-G-34.aspx?tab=1> and Regulatory Notice<http://www.msrb.org/Rules-and-Interpretations/MSRB-Rules/General/~/media/F90930378CD0449ABC1D5F3A4033197C.ashx>. Comments received by the March 31 deadline are available for review here<http://www.msrb.org/Rules-and-Interpretations/Regulatory-Notices/2017/2017-05.aspx?c=1>.

SEC Rule 15c2-12
The Securities Exchange Commission (SEC) is requesting comments on proposed amendments to the Municipal Securities Disclosure Rule (Rule 15c2‑12) under the Securities Exchange Act of 1934. The proposed amendments would add two events to the list of Material Events. For more information, read Nixon Peabody’s public article, “SEC Proposes Amendments to Rule 15c2-12 to Add Events for Which Notice Must Be Provided<https://www2.nixonpeabody.com/en/ideas/articles/2017/03/03/sec-proposes-amendments-to-rule-15c2-12-to-add-events-for-which-notice-must-be-provided>,” and the SEC release, “Proposed Amendments to Municipal Securities Disclosure<https://www.sec.gov/rules/proposed/2017/34-80130.pdf>.” Comments are due no later than May 15 and can be submitted online here<https://www.sec.gov/rules/proposed.shtml>.




350 Winter Street NE, Suite 100 | Salem, OR 97301-3896 | Phone (503) 378-4000 | www.oregon.gov/treasury<http://www.oregon.gov/treasury>


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