Survey says analysts not satisfied with secondary market disclosure.

• Position: News Briefs

According to a membership survey by the National Federation of Municipal Analysts, 63 percent of municipal analysts believe the quality of secondary market disclosure has either declined or is subject to significant shortcomings since the enactment of Rule 15c2-12. Since most analysts find the information supplied under the guidelines of Rule 15c2-12 inadequate, voluntary disclosure initiatives must supplement the available information. Eighty-seven percent of the respondents would like electronic accessibility to disclosure documents via a centralized document delivery system. However, almost half...