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Monday, May 10, 2010

SEC Plans to Recommend Changes to the Municipal Securities Market

News summary by MFWire's editors

Fundsters who attended the ICI conference in Washington, D.C. last week will find the topic of today's Wall Street Journal Fund Track a familiar one. In the article, Daisy Maxey picked up on the speech on municipal securities that was delivered Friday morning at the conference by Buddy Donahue, the SEC's director of investment management. Donahue substituted for SEC chair Mary Schapiro, who was originally slated to speak at the event, but backed out to focus her time on investigating Thursday afternoon's gut-wrenching market drop.

Donahue told attendees that the SEC plans to hold field hearings across the country regarding the municipal securities market. The commission will then recommend changes, be it to laws, regulation or private sector best practices.

Click here to view the speech in its entirety. 

Edited by: Armie Margaret Lee

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