WASHINGTON -- Municipal market participants will have roughly six months to a year to comply with new secondary market disclosure requirements if members of the Securities and Exchange Commission adopt the staff's recommendations at a meeting this morning.

The SEC staff has recommended an effective date of July 3, 1995, for a proposal to bar dealers from underwriting bonds unless they have "reasonably determined" that the issuer has agreed in writing to provide ongoing disclosure of annual financial information and notices of material events, one commission source said.

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