Municipal Securities: Options for Improving Continuing Disclosure

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By Angela N. Clowers (au)
Year: 2012
Pages: 60
Binding Paperback
ISBN 978-1-4578-3622-0

Product Code: 145783622X

Description

Municipal securities are debt instruments that state and local governments issue to finance diverse public projects. As of March 31, 2012, individual investors held up to 75% of the total value of municipal securities outstanding. These securities are exempt from certain federal disclosure requirements applicable to other securities sold publicly. Disclosure provided in the primary market, where these securities are issued, generally consists of official statements. Continuing disclosure is information provided in the secondary market, where these securities are bought and sold after issuance. This report reviewed the information that issuers of municipal securities must disclose for the benefit of investors. It addresses (1) the exent to which information currently provided on municipal securities is useful for investors and the extent to which existing regulations reflect principles for effective disclosure; and (2) options for improving the information issuers disclose to investors of municipal securities. Tables. This is a print on demand report.

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