SEC Steps Up Probe Into Troubled Muni Bonds

Fox Business Network Senior Correspondent Charlie Gasparino reports the Securities and Exchange Commission (SEC) is “looking at whether municipalities are adequately disclosing their budget woes to investors.” Gasparino said the SEC is concerned because “more than any other investment, muni bonds are held by retail investors.”

Excerpt, courtesy of Fox Business Network:

On the SEC insider trading probe:
“The SEC is ramping up a probe into troubled muni bonds. Sources are telling the FOX Business Network they are looking at disclosures made in the bond documents, they are known on Wall Street as prospectuses. What they are looking at whether municipalities, cities and states, are adequately disclosing their budget woes to investors who buy these bonds. More than any other investment, muni bonds are held by retail investors; average people looking to cash in on the triple tax free status. That’s why the SEC is concerned.”

1 Comment on SEC Steps Up Probe Into Troubled Muni Bonds

Leave a Reply

Your email address will not be published.


*