SEC Says 71 Muni Borrowers Lied About Disclosure HistoriesBy
Borrowers hid disclosure lapses from investors in bond sales
Agency reaches settlements with issuers, doesn’t access fines
The U.S. Securities and Exchange Commission said it reached settlements with 71 state and local borrowers for lying to investors about their compliance with disclosure requirements when they sold bonds in the $3.7 trillion municipal market.
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