WASHINGTON - A second nationally recognized municipal securities information repository has warned about the anticompetitive effects of the SEC's proposal to amend its Rule 15c2-12 to designate the MSRB's Electronic Municipal Market Access system as the muni market's central repository for continuing disclosures.

At the same time, Connecticut Treasurer Denise Nappier has suggested that the Securities and Exchange Commission may be a more appropriate venue for EMMA than the Municipal Securities Rulemaking Board, which is a self-regulatory organization for broker-dealers.

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