Municipal disclosure

The topic of issuer disclosure timing has heated up in recent months, and widened a divide between issuers and analysts.

While scrutiny of climate risks grows for municipal bond issuers, so do opportunities to broaden investor interest.

Municipal bond issuers say investors, analysts and regulators should narrow down the information they are looking for in their push for more disclosure.

The Securities and Exchange Commission will discuss voluntary disclosure and buy-side perspectives among other topics in March.

The Securities and Exchange Commission wll work with the market to change secondary disclosure habits without a mandate, issuers and analysts said.

Nicole Byrd, a senior investment professional at Nationwide Mutual Insurance, will be the National Federation of Municipal Analysts chair for the next year.

Wisconsin's latest and historical financials, ratings, offering statements, and contacts are now available at Wisconsinbonds.com

Buy side analysts are skeptical about broker-dealer concerns that the order could greatly expand the private placement market.

The median time it takes for municipal bond borrowers to complete their annual audits was 156 days for fiscal 2018: equal to the slowest time in the past 11 years.

Robert Berry was named to replace Mark Campbell as head of the California Debt and Investment Advisory Commission.