Glossary of Municipal Securities Terms


Disclosure of certain enumerated events relating to a municipal security required to be made by an issuer or obligated person to the Electronic Municipal Market Access (EMMA®) system pursuant to a continuing disclosure agreement or undertaking meeting the requirements of SEC Rule 15c2-12. These disclosures are sometimes referred to as material event notices or disclosures even though a materiality standard applies to only certain of the required disclosures. See: CONTINUING DISCLOSURE; CONTINUING DISCLOSURE AGREEMENT; RULE 15c2-12.

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