Municipal bond issuers and underwriters should review all documents related to their pension disclosures, even those that were not prepared with disclosure in mind, an attorney told muni market participants Friday.

Once the Securities and Exchange Commission starts investigating state pension disclosures, it will look at all the documents it can find, even those not prepared as “disclosure documents,” Elizabeth Columbo, a partner with Nixon Peabody LLP, told attendees at The Bond Buyer’s Third National Municipal Bond Summit in Miami.

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