The Bond Buyer
recently interviewed Polsinelli's Lisa Quateman for a story titled "Consistency Seen Lacking in Conduit Disclosure." A California study into conduit borrowers' disclosure practices says the industry should try to make disclosure more consistent to allow investors to better evaluate investment alternatives.
The SEC provides a checklist guiding corporate bond issuers about what to disclose in public documents, but the same is not true for the more opaque bond industry.
"I do agree the way the SEC speaks to the municipal market is through its reports and the settlement agreements it enters into, but I don't think we can assume the SEC isn't working on this issue," said Lisa Quateman, a bond attorney and managing partner in Polsinelli LLP's Los Angeles office. "I wouldn't be surprised if we do see more information emanating from the SEC."
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