A disclosure regimen that gives the Securities and Exchange Commission authority to set baseline standards might work for the traditional municipal securities markets, but not its riskier outposts, an independent financial advisor warned in an article last week.

The article, by Robert Doty, president of AGFS in Sacramento, is entitled “The Readily Identifiable Riskiest Municipal Securities: Due Diligence Does Make a Difference,” and appears in the current issue of Municipal Finance Journal.

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