SEC Statement on the Importance of Municipal Disclosure During COVID-19

SEC Chairman Jay Clayton along with the Office of Municipal Securities Director Rebecca Olsen have released a public statement regarding the effects of COVID-19 on municipal disclosure.

The statement can be viewed here.

In the statement, which follows an April 8th statement on corporate disclosure, the Commission acknowledges how the pandemic has raised uncertainties regarding the financial status of state and local governments and encourages issuers  to provide updated financial and other disclosures.  The statement also encourages  financial professionals are Encouraged to discuss these matters with main street investors.

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