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Article: MSRB to seek action by SEC if Louisiana agency calls bonds.(Municipal Securities Rulemaking Board, East Baton Rouge Parish, Louisiana, Mortgage Finance Authority)
- Article from:
- The Bond Buyer
- Article date:
- December 11, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If the East Baton Rouge, La., Mortgage Finance Authority follows through with plans to call $50 million of housing bonds on Dec. 31 that critics say may not be legally callable, the MSRB will urge the Securities and Exchange Commission to take enforcement action against the authority, an MSRB official warned yesterday.
"The East Baton Rouge deal is of serious concern to the board and to the municipal securities industry at large because the whole disclosure regime is predicated on the idea that everything is in the official statement," said Christopher Taylor, the Municipal Securities Rulemaking Board's executive director.
"If in fact it is true, and I believe ...