WASHINGTON — Rep. Mike Quigley, D-Ill., has drafted legislation that would authorize the Securities and Exchange Commission to both require issuers to disclose primary and secondary market bond documents directly or indirectly through dealers or others, and to direct the content and timing of those documents.

The draft bill, which is currently being circulated to regulators and market participants for input, also would require corporate conduit borrowers to register with the SEC and meet its corporate disclosure requirements.

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