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PFN Letter on FDTA Implementation

Issuer groups of the Public Finance Network (PFN) submit a letter to Treasury and SEC on the Financial Data Transparency Act (FDTA).

Graphic of a financial report with tags illustrating data standards could result in tagging of metadata for financial documents.
Graphic of a financial report with tags illustrating data standards could result in tagging of metadata for financial documents.

On Tuesday, issuer groups of the Public Finance Network (PFN) submitted a letter to the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Treasury reiterating their interest as stakeholders in the implementation of the Financial Data Transparency Act (FDTA) of 2022. The letter highlights that “Both Subtitle A and Subtitle B… will affect the way governments, entities, authorities and all municipal securities issuers prepare their own financial statements and submit information to the Municipal Securities Rulemaking Board.” It goes onto to argue the importance of stakeholder input and offers assistance in the rulemaking process.

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