A controversial new law requiring cities and states to standardize their disclosure raises a bevy of questions that market participants and regulators will need to answer to pave the way for implementation. That’s the message from Ernesto Lanza of Ballard Spahr, who wrote a white paper on the newly passed Financial Disclosures Transparency Act along with the firm’s Teri Guarnaccia and Kimberly Magrini. “The ability to collect data in a structured way makes a lot of sense, but it’s going to be an interesting journey to get to something that works,” Lanza said. “There’s a lot of uncertainties to be dealt with and decisions to be made by regulators, hopefully along with people who understand the market.”
Source: The Bond Buyer
