Material disclosure requirements govern draft offer documents and lead manager due diligence for municipal debt securities. Draft offer documents and offer documents for municipal debt securities must contain true, fair and material disclosures sufficient for an informed ... Summary
Material disclosure requirements govern draft offer documents and lead manager due diligence for municipal debt securities.
Draft offer documents and offer documents for municipal debt securities must contain true, fair and material disclosures sufficient for an informed investment decision. The issuer and lead manager must ensure inclusion of the disclosures specified in the relevant Schedules and any additional disclosures specified by the Board. Where the issuer is a body corporate to which the Companies Act, 2013 applies, the prescribed Companies Act and rules disclosures must also be included, and the lead manager must exercise due diligence on the veracity and adequacy of the disclosures.
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