New & Noteworthy
The NFMA Disclosure Committee is pleased to release the final version of the Recommended Best Practices in Disclosure for State Government General Obligation and Appropriation Debt. This was a multi-year project, headed by Anne Ross and Nicole Byrd. To download the paper, please click here, or go to Publications/Disclosure Guidelines. The press release can be accessed by clicking here.
The NFMA Introduction to Municipal Bond Credit Analysis registration is now open.The course will be held at Le Meridien in Philadelphia on November 12 & 13, 2015. The NFMA has offered this course annually since 1987. This year's course has been revamped, but attendees can still expect to be provided with an overview of the critical information to perform credit analysis on a variety of sectors. While traditionally an offering for those new to analysis, the course has also been used as a refresher to more seasoned analysts over the years. Program link Register online
The National Association of Bond Lawyers (NABL) has released Crafting Disclosure Policies, a paper to provide NABL members with tools to advise issuers in developing written disclosure policies and procedures. According to the release, the paper explores the functions and benefits (as well as risks) of written disclosure policies, the subjects that drafters should consider addressing, and practical considerations for drafting such policies. The paper also includes a summary and discussion of relevant enforcement actions by the Securities and Exchange Commission (SEC). To view the paper, go to www.nabl.org or click here.
The NFMA has released the final version of its White Paper on the Disclosure of Potential Conflicts of Interest
in Municipal Finance Transactions. To view the paper click here, or go to Publications and click on Disclosure Guidelines.
The NFMA submitted a comment letter to the MSRB concerning draft amendments to Rule A-3 on Membership on the Board. Click here to read the letter: NFMA Comment Letter
The NFMA has released the “Recommended Best Practices in Disclosure for Direct Purchase Bonds, Bank Loans, and Other Bank-Borrower Agreements” (Bank Loan RBP). The Bank Loan RBP is the product of a subcommittee of the NFMA Industry Practices & Procedures Committee, and can be found at this link: Bank Loan RBP Comments on the paper were taken through May 3, 2015. The Committee would like to thank all who submitted their comments.
The NFMA's Municipal Analysts Bulletin for June 2015 is posted under Publications, or can be viewed by clicking here: Vol.25, No. 2.
The NFMA Awards Committee presented six awards at its 32nd Annual Conference in Las Vegas on May 13, 2015. To read the press release, click here
The NFMA has released the draft "White Paper on the Disclosure of Potential Conflicts of Interest in Municipal Finance Transactions". The White Paper is a product of a subcommittee of the Disclosure Committee. Comments on the paper will be accepted through July 20, 2015. White Paper on the Disclosure of Potential Conflicts of Interest in Municipal Finance Transactions, Draft Dated April 20, 2015. Press release dated April 22, 2015
The NFMA's Municipal Analysts Bulletin for February 2015 is posted under Publications/Newsletters, or just click here:Vol. 25, No. 1 The newsletter includes the letter from this year's Chair, Jennifer Johnston, as well as committee and society reports. Catch up on what's happening at the NFMA - there's a lot going on!
The Board of Governors of the NFMA announced its new officers for 2015. Serving as the 32nd Chair of the NFMA will be Jennifer L. Johnston, Vice President/Research Analyst, Municipal Bond Department, Franklin Templeton Investments. Click here for the press release: New Officers for 2015