A Bid to Shame Muni-Disclosure Derelicts Draws Industry’s Fire
- MSRB proposes showing how long the wait is for annual reports
- Industry, government groups say it could be buggy, misleading
Photographer: Jung Getty/Getty Images
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What seems like a tiny tally is causing a big controversy in the world of municipal finance.
State and local government officials are pushing back against a proposal from the Municipal Securities Rulemaking Board that would reveal to their bondholders a potentially embarrassing fact: how long it takes them to post their audited financial statements.