WASHINGTON -- The failure to provide secondary-market disclosure has become the Achilles's heel of the municipal bond market.

But now the Municipal Securities Rulemaking Board has taken a small but very important step toward draggin the municipal market into the mainstream of the securities markets. The board has put forward an 18-month pilot system for acepting bond information from trustees and issuers in three different forms: electronically, on paper, and through facsimile.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.