Municipal market participants said yesterday that they will need to boost outreach to smaller issuers in light of changes to the Securities and Exchange Commission's disclosure rules, which will require some of them to file annual financial information with the Municipal Securities Rulemaking Board's EMMA system.

The changes to the Rule 15c2-12 on disclosure, which were published by the SEC yesterday, designate EMMA as the sole nationally recognized municipal securities information repository beginning July 1, replacing the four existing NRMSIRs.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.