Worried issuers weigh in on FDTA

October 23, 2024 Read more

Municipal market participants this week laid out their doubts about a data standards law in a blizzard of comments to the Securities and Exchange Commission.

A similar refrain came from issuers big and small: the Financial Data Transparency Act of 2022 represents regulatory overreach and an unfunded federal mandate that will especially burden small issuers. The FDTA carries the risk of driving cities and states into the private borrowing market, they warned.