The Municipal Securities Rulemaking Board yesterday submitted to the Securities and Exchange Commission a proposal to establish a continuing disclosure component to the Electronic Municipal Market Access, or EMMA system.

The SEC is expected today to vote to publish the proposal for public comment and to consider proposing changes to the commission's Rule 15c2-12 that will designate EMMA as the replacement for the four nationally recognized municipal securities information repositories, or NRMSIRs.

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