Municipal disclosure

Panelists at this year's GFOA Minimuni Conference remarked on how difficult an environment it is for issuers and why recognizing this is essential for voluntary disclosure.

Ocean Capital's next move is to attemot to have its elected directors seated on the funds' board of directors.

Fitch analysts mentioned the tardy ACFR in the ESG section of its most recent rating report on California general obligation bonds.

Ongoing strikes by actors and writers pose a risk for next year's Oscars ceremony, which generates significant revenue that helps pay off the bonds. 

Recent laws extend the statute of limitations for child sexual abuse victims to file civil claims, impacting California school districts and counties.

A federal initiative, focusing on states, and eventually, larger municipalities and authorities, that places a premium on enhancing transparency, is fundamental to improving the fiscal health of state and local governments.

The Republican ESG bill calls for studies on key muni market issues, including bans on soliciting business, ESG disclosure and investment decisions by underfunded state and local pension plans.

The investor-driven committee created guidelines to help small- and medium-sized issuers provide more uniform disclosure.

The Securities and Exchange Commission will host its Municipal Securities Disclosure Conference May 10

State Treasurer Dale Folwell said he backs the intent and purpose of the bill, which is supposed to make the bond issuance process more transparent.

Muni issuers are staunchly opposed to what they characterize as an unfunded mandate that provides limited benefits.

A panel of experts at The Bond Buyer's National Outlook Conference discussed the opportunities surrounding ESG for both investors and issuers.

Open data standards will help Flint "tell its story" and benchmark itself against other cities, said CFO Robert Widigan.

Municipal bond issuers are worried about what the recently passed Financial Data Transparency Act is going to cost them to implement.

Improved disclosure is likely to have a cost, though analysts have long maintained the benefits outweight that.

New regulations appear to be highlighting disagreements on major muni market topics.

The SEC is required to consult with municipal market participants when crafting the new disclosure data standards.

Some industry observers still question the need for machine-readable municipal disclosure.

The Securities and Exchange Commission's Public Finance Abuse Division began looking in new directions, charging five different firms with violating 15c2-12 limited offering exemptions in addition to going after issuer officials.

Municipal issuers pushed hard but unsuccessfully against the bill, which gives them four years to standardize their financial information.