GFOA MCDC Survey |
GFOA MCDC Survey
On March 10, 2014, the Securities and Exchange Commission’s Enforcement Division (the SEC) announced the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative to provide issuers and underwriters the opportunity to self-report instances of material misstatements in bond offering documents regarding the issuer’s prior compliance with its continuing disclosure obligations. The initiative incentivized underwriters to self-report, which in turn caused many issuers to be questioned about their prior continuing disclosure compliance. This survey is designed to gather information so that we can estimate the time and costs incurred by issuers responding to the MCDC initiative. To assist in this endeavor, please respond to the following questions by April 3, 2015.