Includes “… The bulletin indicates that the antifraud provisions apply to ‘all municipal issuer statements that provide information that is reasonably expected to reach investors and the trading markets …’ This means that not only are documents prepared in relation to government bonds subject to the antifraud provision, but also budgets, financial reports, public announcements, press releases, websites, and verbal statements, such as those made in news conferences, interviews, and speeches. … In a future post, I will outline statements that government officials make and ask if the reader believes these fall under the antifraud provisions.”
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