The Bond Buyer: Updated sanctuary jurisdictions list raises disclosure questions
August 21, 2025
Harrisburg-based Member Tim Horstmann is quoted in a recent article from The Bond Buyer discussing the disclosure implications for municipalities listed as sanctuary jurisdictions.
Tim provides valuable insight into how inclusion on the DOJ’s updated list intersects with SEC Rule 15c2-12 and continuing disclosure obligations. He emphasizes the importance of carefully crafted disclosures in official statements for bond offerings, noting that while voluntary disclosures may seem prudent, they can carry unintended liabilities.
Read the article here (subscription required).