The Municipal Securities Rulemaking Board is holding a three-day board meeting to discuss ways to improve the timeliness of issuers annual financial and operating information filings. The board will also talk about next potential steps proposed municipal advisor continuing education requirements, having received comments from muni market groups about complexities and burdens they have created.
VOICEOVER: The Municipal Securities Rulemaking Board will hold a three-day board meeting in Washington starting on Tuesday, where it will in part discuss how it can help continuing disclosure in the market. The board's continuing disclosure discussion will center on ways to improve the timeliness of issuers' annual financial and operating filings. The meeting will precede an update to a May 2015 report the MSRB is planning to release in the next few weeks.
The report detailed the amount of time issuers took to file their financial information at the end of their fiscal years. The board also plans to discuss its strategic plan for its future as well as the potential next steps for proposed municipal advisor continuing education requirements. It has received comments from market participants on both points. Muni market groups commenting on the strategic plan have urged the board to look at its overall regulations to determine the complexities and burdens they have created. Advisors commenting on the MA continuing education requirements have asked the board to more carefully evaluate and explain the proposed requirements.
I'm Aaron Weitzman. This has been your Muni Minute.