SEC Wants More Muni Disclosure; Vendors May Gain

CONTENT & FEES

After a meeting last Wednesday, the Securities and Exchange Commission proposed mandating that municipal bond broker/dealers must have access to and review the most recent disclosure documents before they recommend a bond to investors -- documents that could end up being sent to any of 53 separate repositories. The rule is designed to ensure that muni bond issuers provide the market with adequate information; it could well have the effect of ensuring that muni data vendors have plenty of bus