(Bloomberg) -- U.S. Securities and Exchange
Commission Chairman Christopher Cox called for Congress to set
new disclosure rules for municipal borrowers, saying there is an
``urgent need'' to improve the information investors receive.
Cox, in a speech in Los Angeles today, also called for
lawmakers to bolster the Governmental Accounting Standards
Board, the group that sets accounting standards for states and
municipalities. Texas this year passed a law allowing local
governments there to ignore the board's rule forcing them to
disclose the cost of benefits promised to retired workers.
Read more at Bloomberg Bonds News
Commission Chairman Christopher Cox called for Congress to set
new disclosure rules for municipal borrowers, saying there is an
``urgent need'' to improve the information investors receive.
Cox, in a speech in Los Angeles today, also called for
lawmakers to bolster the Governmental Accounting Standards
Board, the group that sets accounting standards for states and
municipalities. Texas this year passed a law allowing local
governments there to ignore the board's rule forcing them to
disclose the cost of benefits promised to retired workers.
Read more at Bloomberg Bonds News
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