SEC Aims To Shed Light On Municipal Securities

Law360, New York (July 30, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has approved new rules that will put real-time information about municipal securities into a publicly available online database, a move the regulator hopes will help retail investors get information faster.

The new system, called the Electronic Municipal Market Access system, or EMMA, will be a sister system to the Electronic Data Gathering, Analysis and Retrieval system, or EDGAR, which was established in the 1990s, SEC Commissioner Christopher Cox told a meeting of the commission Wednesday.

EDGAR provides real-time online access...
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