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Council receives training on municipal securities disclosure after Allen Park example
Summary
As an informational item, outside disclosure counsel and the city attorney’s office briefed council on federal securities disclosure responsibilities, citing SEC enforcement trends and local procedures; the item drew public comment urging broader transparency and audits.
The City Council received an informational training on Sept. 15 explaining council members' responsibilities under federal securities laws when the city issues bonds and official statements. Dan Deaton, outside disclosure counsel with Nixon Peabody, and Brett Bartolotta, the city’s deputy city attorney for finance and disclosure,…
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