
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, June 2, 1990                   TAG: 9006020081
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

SEC TO COLLECT TAX-EXEMPT DATA

The Securities and Exchange Commission approved the creation of a central depository that would provide investors with information on tax-exempt bond issues.

In a 3-1 vote, the SEC approved a rule change requiring underwriters to submit official statements on new issues to the Municipal Securities Rule-Making Board in Washington, where they will be made available to the public.

The documents will be similar to the prospectuses issued for corporate securities.

Nineteen months ago, the SEC required securities dealers to obtain official statements for new bond issues of more than $1 million before the underwriting and make them available to investors.

- New York Times

by CNB