U.S. Congressman to Propose Rules for Muni Bonds, WSJ Reports

U.S. Congressman Patrick McHenry, a Republican from North Carolina, plans to propose legislation to make municipal-bond issuers subject to financial-disclosure regulations set by the Securities and Exchange Commission, the Wall Street Journal reported, citing the lawmaker.

The municipal-bond issuers would be required to comply with Government Accounting Standards Board guidelines, McHenry told the WSJ.

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