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National governments should create a centralized informational depository, similar to the NRMSIR in the United States.
to each NRMSIR and to any state information depository (SID) (83) in the
In addition to the exemptions already contained in the rule, the SEC exempted small cities and towns with less than $10 million in securities outstanding, subject to a limited information requirement (1) to provide on request or annually to a state information depository, at least the annual financial information the city or town usually prepares and that is publicly available; and (2) to provide notices of material events to each NRMSIR or the MSRB, and to the state information depository.
Because of the nature of the SEC-approved NRMSIR system, the Muni Council decided that the Central Post Office would not be a central repository but rather a central pass-through location.
The SEC recently concluded a sample study confirming the problems associated with obtaining information from the NRMSIR system.
Finally, the groups recommend that such notices should be filed with NRMSIRs or the relevant SID, if any exists, even if filing of the notice is not required under Securities and Exchange Commission Rule 15c2-12.
A SID is a depository operated or designated by a state that receives information from all issuers within that state, and makes the information available promptly to the public (including NRMSIRs) on a contemporaneous basis.
The SEC's action to create a single filing location replaces the need for governments to file disclosure documents at all four NRMSIRs. Beginning July 1, an issuer will meet its continuing disclosure responsibilities, as dictated by their continuing disclosure agreements, for previously issued and newly issued bonds by filing at EMMA.
* Following several groups' recommendations, the county is attaching a cover letter with all CUSIP numbers to any information submitted to NRMSIRs.
Financial information must be provided to nationally recognized municipal securities information repositories (NRMSIRs) and a state information depository (SID), if one exists in the issuer's state.
Henceforth, nationally recognized municipal securities information repositories (NRMSIRs) and state information depositories (SIDs) - of which there are a combined total of nine, as of mid-April 1996 - will receive and distribute the disclosure information.
Issuers will send annual financial information to all nationally recognized municipal securities information repositories (NRMSIRs) and to a state information depository (SID) if one exists in the issuer's state.
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- NRMI 2
- NRMI 3