WASHINGTON -- A rule requiring underwriters to send advance refunding documents to the Municipal Securities Rulemaking Board went into effect Saturday.

The board's Rule G-36 requires underwriters of deals subject to the Securities and Exchange Commission's official statement distribution rule, 15c2-12, to send two copies of the refunding escrow agreement to the board within five business days of the issue's closing. The rule is in effect for advance refundings that closed July 13 and after.

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