Are We There Yet? The Financial Data Transparency Act

Conference Registration

The Financial Data Transparency Act (FDTA), which was signed in 2022, changes the way governments must report their disclosures (in a structured data format) to the Municipal Securities Rulemaking Board (MSRB) Electronic Municipal Market Access (EMMA) system. Federal agencies are currently working through the rulemaking process to implement the act.

The first round of regulations has set forth new entity identifier requirements and lays the foundation for how the Securities and Exchange Commission (SEC) will tackle specific reporting and other requirements for the municipal securities sector. This session will review the first round of rules and what to expect in the next year as the SEC and other federal agencies work on additional rulemaking. Additionally, panelists will discuss what governments should— and should not—be doing now to prepare for these new requirements.

Learning Objectives

  • Gain an understanding of the Financial Data Transparency Act and the federal regulations that will impact the way governments will have to submit disclosure documents to the MSRB’s EMMA system.

  • Discuss how you can help efforts to minimize burdens that may be associated with future federal rulemaking.

  • Identify ways for your organization to prepare for forthcoming new data standards.