Amendment Approved Concerning Disclosure of Designation Information to Syndicate Members: Rule G-11(g)(iii)

On April 28, 1999, the Securities and Exchange Commission approved an amendment to rule G-11, on sales of new issue municipal securities during the underwriting period.¹ The amendment makes clear that all information about designations paid to syndicate and non-syndicate members is to be provided to each syndicate member and that the designation information must be expressed in total dollar amounts. The amendment became effective upon approval.

More information about the amendment can be found in the notice entitled "Amendment Filed to Rule G-11(g)(iii) Concerning the Disclosure of Designation Information to Syndicate Members."

April 30, 1999

TEXT OF AMENDMENT²

(a) – (f) No change.

(g) Designations and Allocations of Securities. The senior syndicate manager shall:

(i)–(ii) No change.
(iii) disclose, in writing, to the each members of the syndicate , in writing, all available information on designations paid to syndicate and non-syndicate members expressed in total dollar amounts designation information to members within 10 business days following the date of sale and all information about designations paid to syndicate and non-syndicate members expressed in total dollar amounts with the sending of the designation checks pursuant to rule G-12(k); and
(iv) No change.

(h) No change.

ENDNOTES

1. Sec. Exch. Act Rel. No. 41338 (April 28, 1999).

2. Underlining indicates new language; strikethrough denotes deletions.

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