Public Officials Statements - According to the SEC
Posted: Tue Sep 20, 2016 7:55 am
Quoting the SEC:
“Public officials should be mindful that their public statements, whether written or oral, may affect the total mix of information available to investors, and should understand that these public statements, if they are materially misleading or omit material information can lead to potential liability under the antifraud provisions of the federal securities law.”
“[…] the statements of those public officials who may be viewed as having knowledge regarding the financial condition and operations of a municipal issues should be carefully evaluated to assure that they are not materially false or misleading.”
“[…] public officials may have liability under the antifraud provisions of the federal securities laws for such statements.”
Quoted from SEC Release No. 69516, May 6, 2013, “Report of Investigation in the Matter of the City of Harrisburg, Pennsylvania Concerning The Potential Liability of Public Officials with Regard to Disclosure Obligations in the Secondary Market.
“Public officials should be mindful that their public statements, whether written or oral, may affect the total mix of information available to investors, and should understand that these public statements, if they are materially misleading or omit material information can lead to potential liability under the antifraud provisions of the federal securities law.”
“[…] the statements of those public officials who may be viewed as having knowledge regarding the financial condition and operations of a municipal issues should be carefully evaluated to assure that they are not materially false or misleading.”
“[…] public officials may have liability under the antifraud provisions of the federal securities laws for such statements.”
Quoted from SEC Release No. 69516, May 6, 2013, “Report of Investigation in the Matter of the City of Harrisburg, Pennsylvania Concerning The Potential Liability of Public Officials with Regard to Disclosure Obligations in the Secondary Market.