纽约市医疗补助检查长办公室发布2014-2015年工作计划

最近两个SEC执法行动表明,证券交易委员会仍然专注于市政市场,并且,特别地,on officials participating in financings that fail to accurately and completely disclose material information. In an action arising from defaulted bonds sold by a Michigan city to develop a soundstage,the SEC successfully brought fraud charges against the former mayor of the City of Allen Park,Gary Burtkaand,for the first time,指控一名市政官员control person"liability,因此禁止他参与任何未来的市政债券发行。In another case involving a proposed bond issue,美国证券交易委员会(SEC)获得了一项停止哈维市的法院命令,伊利诺伊州为一个经济发展项目发行债券,并对该市的审计官提出指控,Joseph Letke.

The SEC's enforcement actions over the past several years,read together,comprise a line of cases clarifying the SEC's views of the scope of securities fraud in the municipal markets and,increasingly,发行人或借款人的官员的个人责任。尽管这些案件中的每一个事实都相对清楚,而且往往是可责的,SEC的执法行动所带来的教训对于作为市政市场借款人的医疗机构官员来说至关重要。必威官网bet

很明显,SEC向市政市场发出的信息是,不完全或误导性地披露市政债券不仅是不可接受的,it is a violation of  the federal securities fraud statutes and will not be tolerated. Thus,officers of borrowers of tax exempt bonds must ensure that the disclosure contained in the Official Statement regarding the borrower,以及正在进行的年度和事件披露,is accurate and complete. Failure to meet this obligation can lead to significant penalties,including fines and a bar from involvement with the issuance of municipal bonds,potentially threatening the ability of such officers to continue to serve in their existing positions.

卫生保健借贷者的官员能做些什么来保护自己不必威官网bet受这种责任的影响??

  1. 了解借款人的披露责任范围。
  2. Assemble a strong team of internal staff and external experts to assist in preparing disclosure,无论是初次发行还是持续披露。
  3. Ensure that you obtain input from those persons in your organization that are knowledgeable 必威体育网站about the various areas that are addressed in the disclosure document – it is unlikely that any single person will have all of the necessary information to prepare accurate and complete disclosure.
  4. Do not completely rely on others.  Read the draft disclosure and test the statements,ask questions of those preparing the materials and be certain that any inaccuracies that come to light are corrected.  Do not assume that someone else will catch an inaccurate statement;ultimately,the document is the issuer or borrower's responsibility.