WASHINGTON — The Municipal Securities Rulemaking Board on Friday filed with the Securities and Exchange Commission a revised proposal that would temporarily give issuers more time to voluntarily disclose annual financial information to EMMA for special designation.

In response to issuer complaints and directions from the SEC, the board is now proposing to give issuers the option of voluntarily filing their annual financial information to the Electronic Municipal Market Access system within either 120 days or, on a temporary basis, 150 days after the close of their fiscal years. However, the 150-day "transitional" filing period for special designation would phase out after Dec. 31, 2013.

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