At the 2013 Annual Business meeting, the GFOA membership will be voting on a new public policy statement recommended by the Executive Board for approval. The policy statement, Opposition to Giving the SEC Authority Over the Content, Timing and Frequency of State and Local Government Financial Statements and Disclosure Documents, explains GFOA’s positions related to a July 2012 Municipal Securities Report issued by the Securities and Exchange Commission. The policy statement reiterates GFOA’s opposition to legislative or regulatory action that would allow the SEC to interfere with or regulate state and local government bond disclosure documents, and financial information. The statement also opposes the SEC paper’s suggestion that the SEC should have a role overseeing GASB. Support for industry efforts related to bond disclosure and increased bond pricing transparency, is noted in the statement.
The statement is available at: