NFMA Seeks Comments on Disclosure of Statutory Liens
Comments due on October 15
Section: Around the Nation

The National Federation of Municipal Analysts has released a draft white paper on “General Obligation Bond Payment Protections: Statutory Liens and Related Disclosure.” The NFMA addressed this topic in a white paper “to call attention to the lack of uniform, transparent and clear disclosure of the payment sources and security protections afforded” to the holders of general obligation debt. Jennifer Johnston, chair of the NFMA’s Industry Practices and Procedures Committee, stated: “Having clear and complete disclosure benefits all market participants. The NFMA wanted to get involved in the dialogue related to statutory liens and general obligation bonds to call attention to why better disclosure is necessary.” 
Comments on this white paper will be taken through October 15, 2016, and can be submitted to NFMA Executive Director Lisa Good. Established in 1983, the NFMA is an organization of over 1,300 members who evaluate credit and other associated risks in the municipal market. These individuals represent mutual funds, insurance companies, broker/dealers, bond insurers, rating agencies, and financial advisory firms.