[13960]
September 18, 2001
TO: FIXED-INCOME ADVISORY COMMITTEE No. 13-01
RE: ICI RECOMMENDATIONS TO THE MSRB FOR AN IDEAL DISCLOSURE SYSTEM
The Institute recently submitted to the Municipal Securities Rulemaking Board
recommendations for an “ideal disclosure system” for the municipal securities market. The
Institute’s recommendations, along with those of other industry groups, were submitted at the
request of the MSRB in preparation of long-range planning sessions on disclosure initiatives
that will begin in October.
The Institute’s submission consists of two parts. The first part focuses on the attributes
of an ideal disclosure system and presents key features that should be reflected in the MSRB’s
proposed central education website. The second part focuses on the process involved in
developing the disclosure system, particularly the establishment of an advisory board to
oversee the development of the central repository. This section also discusses the various
guidelines and protocols that should be developed to ensure the successful operation of the
disclosure system.
Barry E. Simmons
Associate Counsel
Attachment
Attachment (in .pdf format)