LOS ANGELES -- The Securities and Exchange Commission is investigating a Fresno County, Calif., Marks-Roos bond pool that purchased five local obligations, two of which later defaulted on bondholder payments.

This is the third SEC inquiry into Marks-Roos bond pools that has been publicly identified in recent weeks. Like the others, it is believed to be part of a probe by the agency into the adequacy of disclosure information provided to Marks-Roos bond investors.

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