TITLE

Insurance Draws Spark Disclosure Worries

AUTHOR(S)
Ackerman, Andrew
PUB. DATE
July 2010
SOURCE
Bond Buyer;7/15/2010, Vol. 373 Issue 33350, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the concerns of municipal bond analysts regarding the move of issuers to draw on bond insurance to pay for debt service without any disclosure of action to investors in the U.S. Mark Stockwell, chairman of the National Federation of Municipal Analysts, stresses the need for a disclosure whenever an issuer failed to pay debt service. But under the Securities and Exchange Commission's Rule 15c2-12, such disclosure can only be required when the action is substantial.
ACCESSION #
52464506

 

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