The Investment Company Institute is urging the Municipal Securities Rulemaking Board to expand the proposed second phase of its transparency system for short-term debt to include more types of data and documents, while the Securities Industry and Financial Markets Association is concerned that the expansion would be unduly onerous for dealers.

The two groups raised their concerns in comment letters filed with the Securities and Exchange Commission Friday, about six weeks after the MSRB proposed the final phase of its Short-term Obligation Rate Transparency, or SHORT, system.

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.