SEC Approval of Electronic Submission System Under Rule G-36

The Securities and Exchange Commission has approved implementation by the Municipal Securities Rulemaking Board on January 1, 2002 of an optional system of electronic submission of official statements, advance refunding documents and Forms G-36(OS) and G-36(ARD) under rule G-36.

 

On August 1, 2001, the Securities and Exchange Commission approved the implementation by the Municipal Securities Rulemaking Board (“MSRB”) on January 1, 2002 of an optional system of electronic submission by underwriters of official statements, advance refunding documents and Forms G-36(OS) and G-36(ARD) to the Municipal Securities Information Library^® (or MSIL^®) system.^[1] Underwriters must continue to make submissions in paper form until December 31, 2001. On and after January 1, 2002, underwriters may begin making submissions in electronic form. However, underwriters will not be required to make submissions electronically and the MSRB will continue to accept submissions made on paper. Underwriters that make submissions of official statements, advance refunding documents and the attendant forms on paper will continue to be required to send two copies of each such document or form to the MSIL^® system by certified or registered mail, or some other equally prompt means that provides a record of sending. Procedures for making submissions using the electronic system will be set forth in the Form G-36 Manual, which will be revised accordingly upon implementation of the system.^[2] For a general description of the system and text of the amendments to rule G-36, see “Electronic Submission of Official Statements, Advance Refunding Documents and Forms G-36(OS) and G-36(ARD) to the MSRB,” MSRB Reports, Vol. 21, No. 2 (July 2001) at 37.

 

 

August 8, 2001

 

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Supplement to

FORM G-36 MANUAL

Relating to

Electronic Submission of Official Statements, Advance Refunding Documents

and Forms G-36(OS) and G-36(ARD)

(August 1, 2001)

 

The Securities and Exchange Commission has approved the implementation by the MSRB on January 1, 2002 of an optional system of electronic submission by underwriters of official statements, advance refunding documents and Forms G-36(OS) and G-36(ARD) to the MSIL^® system.^[3] Underwriters must continue to make submissions in paper form until December 31, 2001. On and after January 1, 2002, underwriters may begin making submissions in electronic form. However, underwriters will not be required to make submissions electronically and the MSRB will continue to accept submissions made on paper. Underwriters that make submissions of official statements, advance refunding documents and the attendant forms on paper will continue to be required to send two copies of each such document or form to the MSIL^® system by certified or registered mail, or some other equally prompt means that provides a record of sending. Procedures for making submissions using the electronic system will be set forth in the Form G-36 Manual, which will be revised accordingly upon implementation of the system.

 

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