Which statement about continuing disclosure is correct?

• A. It is provided only at issuance.
• B. Ongoing information provided after the offering to keep investors informed about material events and financial condition.
• C. It is optional for issuers.
• D. It relates to advertising.

Answer: (B)

Continuing disclosure is ongoing information provided after the offering to keep investors informed about material events and the issuer’s financial condition. This obligation is part of the municipal securities framework, not just a one-time requirement at issuance. It covers annual financial information and notices of material events, and is typically filed so investors have current data about credit quality and risk, often through the EMMA system. Because it ensures ongoing transparency, this description best matches what continuing disclosure is supposed to be. It’s not limited to issuance, it isn’t optional for issuers, and it isn’t about advertising.