STAMFORD, Conn., April 20, 2020 (GLOBE NEWSWIRE) -- Lumesis, home of the DIVER Underwriter platform, has announced that, effective immediately, its SEC Rule 15c2-12 pre-bid diligence for competitive deals will include a review of whether the POS includes language regarding COVID-19.
“Our clients want to know, before they bid a competitive deal, that the obligated party is disclosing what is known around COVID-19’s impact and contemplating the prospective impact of COVID-19. While there are and will be many uncertainties, they want to know that COVID-19’s impact is being considered,” said Stacey Virzi, CAO and Head of Client Services.
This service enhancement follows Lumesis’ launch, in mid-March, of its free COVID-19 continuing disclosure monitoring service (updated three times per day) at lumesis.com. "Due to the ongoing importance of disclosures and awareness around statements being made by obligated parties, this is a logical next step to best serve our clients' needs," said Gregg Bienstock, CEO of Lumesis.
As articulated in the Nixon Peabody thought leadership document, “[Chair] Clayton calls for meaningful coronavirus (COVID-19) disclosure … it is noteworthy that the SEC is not only encouraging—but is “requesting”—issuers to make “all reasonable efforts” to tell it as it is to their investors without worrying about the SEC second guessing properly considered statements.”
Lumesis, Inc. is a financial technology and data company focused on providing business efficiency, regulatory and data driven solutions to the municipal bond marketplace.
Contact:
Lumesis, Inc.
Heather Queiroz, Director of Marketing
203-276-6500
600 Summer St., 5th floor Stamford, CT 06901
inquiries@lumesis.com, www.lumesis.com