We now turn to the recommendation from the Office of Municipal Securities to propose rule amendments that would improve public access to information about certain financial obligations incurred by issuers of municipal securities and obligated persons outside the public offering process. To promote efficient pricing of a municipal issuer’s outstanding securities, investors and other market participants should have access to current information about a municipal issuer’s financial condition and the creation of risks that impact existing security holders. By facilitating timely access to important information about a municipal issuer’s financial obligations, today’s proposal seeks to equip investors making investment decisions and market participants undertaking credit analyses with continuing disclosures to better assess a municipal issuer’s overall indebtedness and creditworthiness.
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