SEC Expands Continuing Disclosure Requirements: Includes Tax Exempt Bonds of Healthcare Issuers

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On July 15, 2009, the Securities and Exchange Commission (“SEC”) voted to propose a set of rule revisions to expand the types of debt and events that are subject to continuing disclosure. The SEC’s goal is to address the disparity between the level of information available to investors in municipal securities versus information available to investors in corporate securities - thus continuing the drift of tax-exempt municipal bond disclosure towards that of public companies.

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