Regulatory Alerts2019-02-20
Notice to All Issuers and Issuing Houses
The Securities and Exchange Commission has introduced flexible timing for filing consent letters, permitting submission either at the transaction's initial stage or with executed offer documents in a single complete batch. The regulatory body also streamlined the execution of advertisement materials and specimen documents by waiving them entirely for book-building transactions without a retail tranche and limiting execution to issuing houses for other offerings. For sub-national issuers, consent letters and offer document execution are now restricted to the Governor, Commissioner for Finance, Accountant-General, and Attorney-General, eliminating the previously burdensome requirement for full State Cabinet participation.
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