Filing a Prospectus
The local authority must file two forms of prospectus, a preliminary prospectus and a final prospectus.
The following table highlights the required documentation and timelines for the application for a preliminary prospectus.
| Required Documents and Timeline for the Submission of a Preliminary Prospectus | ||
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The FSC concludes its review within 10 days of receipt of the prospectus.
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Municipality/local authority submits by email to: |
| The prospectus should contain facts and disclose all material information required by investors to make informed decisions. | ||
A municipality can begin their road show to gain investor interest after the Commission issues a receipt for the preliminary prospectus. However, the securities listed in the preliminary prospectus cannot be sold and the municipality/local authority cannot accept any purchase offers until a receipt is issued by the FSC for the final prospectus.
The following table highlights the required documentation and timelines for the application for a final prospectus.
| Required Documents and Timeline for the Submission of a Preliminary Prospectus | ||
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The FSC reviews the final prospectus within 5 days of receipt.
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Municipality/local authority submits by email to: |
| The prospectus should contain facts and disclose all material information required by investors to make informed decisions. | ||
A Municipality or Local Authority who wishes to issue Municipal Securities or has outstanding Municipal Securities must make information about the municipality and their municipal securities available on an ongoing basis and maintain a website containing the following information:
- Audited Financial Statements
- Annual Reports
- Notice of any material changes
- Information on any delinquency of payments