US SEC proposes timely disclosure on muni bonds
WASHINGTON, July 15 |
WASHINGTON, July 15 (Reuters) - Municipal bond issuers have to disclose information about material events such as bankruptcies and insolvencies within 10 days, the U.S. Securities and Exchange Commission proposed on Wednesday.
The SEC voted to increase disclosures in the $2.6 trillion municipal bond market so that investors would have more timely information on the bonds they purchase or sell.
Federal rules now only require disclosure of material information "in a timely manner." (Reporting by Rachelle Younglai; Editing by Derek Caney)
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