Haines of SEC Says Connecticut, Texas Seek to Avoid Health Care Accounting

(Bloomberg) -- The Securities and Exchange
Commission's lead municipal bond regulator today criticized bids
by Texas and Connecticut to bypass accounting rules forcing them
to disclose how much they will need to pay for retiree health
care.

Efforts by those states to reject common, national
accounting standards would leave investors without the
information they need to assess the risk of purchasing bonds,
Martha Haines, head of the SEC's Office of Municipal Securities,
told a meeting of the Government Finance Officers Association in
Anaheim, California.


Read more at Bloomberg Bonds News