WASHINGTON — The Financial Industry Regulatory Authority is developing a system that will tell its examiners and firms’ compliance officials whether firms that sold munis with material-event disclosures passed that information on to customers.

Issuers must file notices with the Municipal Securities Rulemaking Board’s EMMA system describing delinquent principal and interest payments, unscheduled draws on debt-service reserves, or credit enhancements and other events.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access