- SEC Announces Field Hearings on Municipal Securities Markets
- September 10, 2010
- Law Firm: Alston Bird LLP - Atlanta Office
Yesterday, the Securities and Exchange Commission (SEC) announced that it will launch a series of field hearings to examine the municipal securities markets. According to Chairman Mary Schapiro, "for the [municipal securities] market to continue to serve our communities, [investors] must be confident that they are getting the information necessary for knowledgeable decisions, at the time and in a form that they need it."
The hearings will take place in various locations across the country, with the first hearing scheduled for September 21 in San Francisco. In the field hearing, a panel of both individual and institutional investors will share their experiences in the municipal securities market and discuss a variety of topics, including disclosure and transparency, credit ratings, and internal controls. A staff report will be released at the conclusion of each field hearing and will include recommendations for regulatory changes, industry "best practices," and legislative changes.
In addition to the hearing scheduled for later this month, the SEC has scheduled future hearings in Chicago, Washington, D.C., Tallahassee and Austin, Texas.