Skip to Content

Disclosure and Securities Law

Kutak Rock regularly assists state and municipal issuers and other obligated persons across the country in discharging their disclosure obligations under federal securities laws in an environment of increasingly complex and strict standards and practices. Our broad market knowledge and penetration ensures that our clients are able to understand regulatory trends, learn quickly of specific developments and be aware of practical developments as they occur across the country.

The firm is nationally recognized for its experience in bond-related federal securities laws. Since its pioneering work on the application of SEC Rule 10b-5 to municipal bonds over 40 years ago, the firm has been in the forefront of determining the interplay between federal securities laws and primary market disclosure for municipal bonds.  During the last several decades, the firm has actively assisted clients with compliance and participated in industry and regulatory initiatives related to secondary market continuing disclosure required by amendments to Rule 15c2-12.

A team of Kutak Rock attorneys are devoted to monitoring public statements by SEC personnel and tracking and analyzing SEC and MSRB releases and regulatory requirements.  Each time the SEC has issued draft regulations over the past decades, the firm has provided extensive commentary that has helped influence the content of the final regulations.  Through such interaction with the regulators, our firm not only monitors developments, but also acts as a voice for our clients on important issues.

We regularly disseminate client alerts regarding public finance industry and regulatory developments pertaining to municipal disclosure, and we conduct training and prepare internal procedures for our clients. 

Our experience includes serving as disclosure counsel in discrete transactions and/or as ongoing disclosure counsel for numerous state and local bond issuers.