Glossary of Municipal Securities Terms


Financial information or operating data of the type included in the final official statement with respect to the issuer or an obligated person. Rule 15c2-12 obligates underwriters for primary offerings of municipal securities to ensure that the issuer or other obligated person has undertaken to provide such information or data on an annual basis to the MSRB’s EMMA system. See: CONTINUING DISCLOSURE; CONTINUING DISCLOSURE AGREEMENT; RULE 15c2-12.

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