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Shearman & Sterling on FINRA’s FAQs Regarding Research Conflicts of Interest in the Offering Process

In late May, FINRA published a set of Frequently Asked Questions regarding FINRA’s equity research rule,1 which addresses interactions between issuers, research analysts and investment bankers in various stages of the offering process (the “Research FAQs” or the “FAQs”).…

Should Municipal Bond Issuers be Required to Disclose Bank Loans?

You may be surprised to learn that municipal bond issuers are not required to disclose bank borrowings.  I’ve heard numerous estimates that such issuers have outstanding bank borrowings in the $200 to $300 billion range, which would amount to approximately

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Editor's Tweet: Cate Long of Reuters Discusses Whether Municipal Bond Issuers should be Required to Disclose Bank Loans?