Letters

Underwriters Submitting 529 College Savings Plan Information

Summary

SIFMA provides comments to the Municipal Securities Rulemkaing Board (MSRB) on a revised draft rule requiring underwriters to submit 529 college savings plan information to the MSRB, MSRB Notice 2012-59.  SIFMA applauds the revisions to the proposal including: reducing the reporting frequency from quarterly to semiannually; providing filers a 60-day lag time to report the semi-annual information; providing filers an implementation period of at least one year following approval by the Securities and Exchange Commission (SEC); and revising certain terms and definitions. However, SIFMA continues to have concerns with aspects of the proposal, which SIFMA believes requires further clarification from the MSRB.

Committee

Municipal Securities Division, Retirement and Savings Committee, State Government Relations

Date

21

December

2012