SECURITIES

SEC Tightens Muni Market Standards: The Securities and Exchange Commission proposed ways to pressure cities and states that issue debt to provide investors with regular financial information. The plan would make it illegal for brokerages to buy municipal bonds for sale to the public unless the issuers agree to disclose annual financial and other relevant information. The proposal is an attempt by the agency to bolster the market’s disclosure standards, which are far less stringent than those for corporations that issue securities. The SEC has also been looking for ways to shore up investor confidence in municipal bonds following recent revelations that dealers routinely make political contributions as a way to obtain underwriting business.