Posts in Trending Topics
SEC Adopts Amendments to Rule 15c2–12 to Improve Transparency of Municipal Securities Disclosures

Earlier this year, the Securities and Exchange Commission (SEC) amended Rule 15c2–12 (17 C.F.R. § 240.15c2–12). Rule 15c2-12 ensures that underwriters secure an agreement with states, cities, and other governmental entities issuing municipal securities that those entities will disclose information about the issued securities to the Municipal Securities Rulemaking Board (MSRB) on an ongoing basis. This information is intended to inform interested parties on the financial standing or other condition of the state government that may have an effect on the bonds.

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Disappearing Women

How quickly things change—and not for the better.  In June, Fortune magazine reported that woman were “making strides” because a whopping 6.4% of CEOs were female.  As sad as that figure is, it just got much worse.  Avon recently announced that CEO Sheri McCoy will leave the 131-year-old cosmetics firm in March.  This news broke just one day Oreo and Cadbury owner Mondelez announced that its longtime CEO Irene Rosenfeld will give up the top spot at the company later this year.  Moreover, let us not forget that in June, Marissa Myers stepped down as the CEO of Yahoo (now known as Altaba).  Each of the CEO’s faced harsh criticism from activist shareholders during her tenure.  And so, for now, we are down to 5.8% female representation of woman in Fortune 500 companies.  Some strides.

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