WASHINGTON -- Securities and Exchange Commission member Richard Roberts turned up the heat on issuers this week to improve secondary market disclosure by urging them to develop uniform reporting documents.

"I think that if the industry wants to maintain its self-regulatory mode it will have to come up with acceptable form and content guidelines of some sort or else somebody is going to take the ball away from you," warned Mr. Roberts during a workshop session on municipal disclosure held Monday at the American Bar Association's annual meeting in Atlanta.

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.