The COVID-19 pandemic has created uncertainties in the financial status of state and local governments as well as special purpose entities. To address some of those uncertainties, SEC Chairman Jay Clayton and the Director of the Division of Corporation Finance Rebecca Olsen have issued a statement with observations and requests about the disclosures of municipal market participants. The statement is directed to issuers of municipal securities as well as investors and market participants more generally and is intended to parallel the Corporate Issuer Statement released by the SEC on April 8th that discussed public company disclosures.
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