BRADENTON, Fla. - On the heels of the Securities and Exchange Commission's proposal to strengthen muni disclosure requirements, Tennessee Comptroller Justin Wilson said states also should do more to ensure their borrowers and investors are more educated.

The SEC last week began taking comments on changes to its Rule 15c2-12 on disclosure that would eliminate exemptions for variable-rate demand obligations as well as expand the types of events issuers must disclose on an ongoing basis. The proposal also would require issuers to file material event notices no later than 10 business days from when an event occurs.

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