MSRB disclose credit
Thursday, Apr 16,2009, 2:23:15 PM Click:
Source: U. S. Newswire
Contact: Jennifer A. Galloway, Chief Communications Officer, City Council securities regulatory authorities (MSRB), +1-703-797-6600, email@example.com
ALEXANDRIA, Virginia, April 15 / PRNewswire / - The city council of securities regulators (MSRB) supports greater accessibility to all credit ratings for municipal bonds. The MSRB recognizes that the Securities and Exchange Commission (SEC) is examining the regulation of credit rating agencies with respect to transparency and conflicts of interest in bond ratings. The MSRB has previously stated its support the SEC aims to improve transparency in the process of credit rating. The MSRB believes retail investors to benefit from clearer articulation of the considerations used in the rating process, greater transparency in this process, and disclosure or eliminate potential conflicts of interest.
The MSRB commends SEC Chairman Mary Schapiro credit ratings to make a priority, and today for the SEC rating agencies round table on the supervision of credit rating agencies.
The municipal bond market is dominated by retail investors and credit ratings are an important indicator of credit quality. Investors must have access to all the ratings to determine adequately to certain risks related to municipal security. However, it is important for investors to realize that the opinions one tool to evaluate the safety and can not replace the separate investment analysis.
The MSRB believes that the recent bond insurer and bank liquidity declines have made access to the underlying and strengthening credit rating even more important for municipal investors. "Access to all credit ratings is of vital importance to investors given the recent decline in bond insurer and bank liquidity rating," said Ronald A. Stack, president of the MSRB. "We applaud the SEC for the convening of the panel today and we welcome progressive discussions on these issues that will benefit investors. We also support the improvement of disclosure of credit ratings municipal bonds because knowledge of all the notes is a key element of investor protection. "
The MSRB plans to make credit ratings more easily available, including disclosure to investors on the MSRB Electronic Municipal Market Access (emma.msrb.org) system.
The MSRB has previously noted that the underlying rating (or lack) of May in an operation, especially when the credit rating of the bond insurer is downgraded or is the subject of the information of Agency rating opinions on a possible action. An underlying credit rating is assigned to reflect the credit quality of a problem independent credit obligations such as insurance. To ensure that all necessary information is made pursuant to MSRB Rule G-17, the MSRB noted that the dealer must take into account information on credit ratings is available in the industry sources created (or other information to the seller) and must include this information in determining the elements to disclose about the transaction.
The municipal council of securities regulators (MSRB) was established in 1975 by Congress to develop rules regulating securities firms and banks involved in underwriting, trading and selling municipal securities. The Board also operates information systems, including the municipalities of access to electronic markets (EMMA) system, designed to promote transparency and access to information. The MSRB also conducts extensive outreach and education. The Council is composed of members of municipal securities and the public, and is responsible for protecting investors and promoting a fair and efficient marketplace. The Council is a self-regulatory organization that is subject to supervision by the Securities and Exchange Commission. SOURCE Municipal Securities Rulemaking Board (MSRB)
You may also be interested in:
- Bailouts Could Be Used to Remake Rating Business, SEC Paneli
- Redmer announces he will run for 7th District Senate: Same seat County Executive Smith is considering
- Workers' Comp Writers see First Double-Digit Drop in Decades
- More Than $30 Million in Losses Expected From Los Angeles Fire
- Axa talks to Australian competition regulator on NAB decision
LOS ANGELES--(BUSINESS WIRE)-- While the national policy debate about 401(k)
Noting that the Obama administration is expected to unveil its plan to enhance
Reinsurance Group of America, Inc. (RGA), a provider of life reinsurance
MILWAUKEE_Private provider of mortgage insurance MGIC Investment Corp. 's loss
International general insurer Axa S.A.  said it has tied-up with the
The AMBG closed Wednesday, Oct. 14, at 843.05 (+2.06%). Of the 15 A.M. Best
HARTFORD, Conn.--(BUSINESS WIRE)-- As the 2009 hurricane season begins, the MIT
- Most Read
- Most Discussed
- Most Emailed
- A.M. Best Places Ratings of Forethought Life Insurance Compa
- A.M. Best Downgrades Issuer Credit and Debt Ratings of Jackson National Life Insurance Company and Its Affiliates
- A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative
- Till Death Do Us Part; How second-to-die life insurance pol
- Farmers Insurance(R) Named One of the 'Best Companies to Work For' in the Greater Kansas City Area
- Chartis Charts Its Path Away From AIG
- Prepared Insurance Strategy Shaped by Florida Regulation, Rates
- A.M. Best Revises Outlook to Negative for AXA Financial, Inc
- Generali Pilipinas Marks Record Bancassurance Performance in the Philippines
- Bank of America began to reduce the principal amount of mortgage loan modifications
- 'Strictly Come Chancing'-Saturday Night 'Sneak-In' Thieves on the Rise Warns Swinton Insurance
- Americans Say They Don''t Have a Voice Anymore, 2 In 5 Feel
- Tips on Buying Used Cars
- Opinions Wanted on Unaudited Financials: Initiates Review by Online Financial Magazine
- In a Quiet Storm Season, State Debates Insurance
- Humana Military Healthcare Services Promotes Flu Vaccinations for South Region TRICARE Beneficiaries
- Insurer Pacific Life Sees AIG Hangover, Policy Sales Strong
- Annuity Industry Fights Back, Last Chance to join the "