The recently passed Financial Data Transparency Act (FDTA) mandates that securities regulators develop machine-readable data standards for issuer disclosures in several securities markets, including municipals. While there is plenty of anxiety in the issuer community about the cost, resource needs, and timeline to develop and implement data standards in the municipal market, there are many benefits for investors, including the ability to access and aggregate disclosure data quickly and accurately across the entire market.
Learn more about quality issues in audited financial statements and how the FDTA will help improve financial statement accuracy