SIFMA and other associations provided comment to the U.S. Securities and Exchange Commission (SEC) on amending issuer continuing disclosure agreements (CDAs). In the Adopting Release for the 1994 Amendments to Rule 15c2-12, the SEC promoted flexibility in drafting CDAs required by the amended Rule while adhering to a basic framework. As a result, there is no uniform CDA used by all over the last twenty years.

See also:
Amendment to Municipal Securities Disclosure

SIFMA signed with:
Bond Dealers of America
Government Finance Officers Association
National Association of Bond Lawyers
National Association of State Auditors, Comptrollers and Treasurers