What does SEC Rule 15c2-12 require underwriters to do regarding municipal securities?

SEC Rule 15c2-12 mandates that underwriters review and disseminate official statements that are prepared by issuers of municipal securities. This requirement is designed to ensure that key information related to the securities is accessible to potential investors, thereby promoting transparency and informed decision-making in the municipal securities market.

This rule aims to provide investors with a comprehensive understanding of the financial status and risks associated with municipal securities. The official statement typically includes important details such as the purpose of the bond issue, the structure of the debt, the financial condition of the issuer, and the security for the bonds. By requiring underwriters to disseminate this information, the rule helps protect investors and enhances the integrity of the municipal securities market.

The other options do not align with the requirements set forth by SEC Rule 15c2-12. While negotiating bond pricing, conducting audits, or providing disclosures only upon request may play roles in broader financial practices or regulations, they are not specific obligations under this particular SEC rule. Thus, the emphasis on reviewing and disseminating official statements stands out as the key compliance requirement for underwriters of municipal securities.