SEC to issue guidance on auction-rate securities

03/11/2008 | Bond Buyer (subscription required), The

Guidance that would give some relief to municipal issuers of auction-rate securities could come from the Securities and Exchange Commission as early as this week, a spokesman said Monday. The guidance comes after Robert Colby, deputy director of the SEC's Office of Markets and Trading, spoke informally about the provisions at a conference. Colby also said market participants should not rely solely on credit-rating agencies.

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Bond Buyer (subscription required), The

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