The SEC's Municipalities Continuing Disclosure Cooperation Initiative — An Inevitable Dilemma?

Although the SEC’s Municipalities Continuing Disclosure Cooperation (MCDC) initiative purports to offer “favorable terms” to those borrowers and underwriters that take advantage of the program, this initiative presents some hidden risks and raises potentially significant legal issues. A team of highly experienced Foley practitioners will explore these matters from the borrower’s perspective, including the implications of the so-called “modified prisoner’s dilemma” created by the initiative.

Key takeaways that we will discuss include: 

• Key aspects of the SEC’s MCDC initiative


• Potential pitfalls from MCDC participation


• When borrowers should consider taking advantage of the MCDC initiative

Speakers

• David Y. Bannard, Partner, Foley & Lardner LLP


• Phillip M. Goldberg, Partner, Foley & Lardner LLP


• Heidi H. Jeffery, Partner, Foley & Lardner LLP

There is no cost to participate in this program, but pre-registration is required. We look forward to having you join us. For more information, please contact Zulaikha Rahim at zrahim@foley.com.

Foley & Lardner LLP will apply for CLE credit after the program, wherever applicable. Foley & Lardner LLP certifies that this activity has been approved for California MCLE credits by the State Bar of California in the amount of 1.5 General credits. Foley & Lardner LLP is a State Bar of California MCLE approved provider. Please note that participants must log in to both the teleconference and Adobe Connect portions on the date of the event; credit may not be obtained by viewing and/or listening to a program recording after the event.