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MSRB Notice

SEC Approves Amendments Relating to Official Statement Delivery Requirements Under Rule G-32, Rule G-36 and Rule G-11

On August 25, 2005, the Securities and Exchange Commission (the “SEC”) approved amendments to Rule G-32 (on delivery of official statements to new issue customers), Rule G-36 (on delivery of official statements and advance refunding documents to the Board), and Rule G-11 (on new issue municipal securities during the underwriting period).[1]  The amendments are intended to improve the efficiency of official statement dissemination in the municipal securities marketplace and the timeliness of official statement deliveries to customers.  The amendments are effective immediately.  A summary of the amendments is available in MSRB Notice 2005-37 (June 23, 2005) at the MSRB web site (

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Questions regarding the amendments may be directed to Ghassan Hitti, Assistant General Counsel.

August 30, 2005


[1] See Exchange Act Release No. 52333 (August 25, 2005).