The Securities and Exchange Commission released a report yesterday calling for structural improvements to the $3.7 trillion municipal securities market amid a recent uptick in city bankruptcies, the Salt Lake City Deseret News reported today. "While we have put in place measures to help investors make more knowledgeable decisions about municipal securities, we could do more for investors with statutory authority to improve disclosure and muni market practices," said SEC Chair Mary L. Schapiro. The report recommends better disclosures to investors, allowing the IRS to share information with the SEC and providing enforcement for continuing disclosure agreements and other obligations.
To read the report, please click here:
http://www.sec.gov/news/studies/2012/munireport073112.pdf