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MSRB seek comments on electronic delivery of 529 disclosures

(March 1, 2012) - The Municipal Securities Rulemaking Board (MSRB) is looking at the possibility of changing the current requirements regarding the delivery of 529 plan official disclosure statements, and is seeking comments from the public.

Currently, investors must be provided the official disclosure statement prior to opening an account, either by requiring the investor to download a pdf copy, or by delivering to the investor a paper copy. This rule is more stringent than the rule for delivery of prospectuses for other types of municipal securities and for mutual funds.

Dealers of 529 plans would presumably welcome the proposed changes.

For more information, click here.

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