How promptly must issuers file event disclosures on EMMA following a listed event?

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Issuers are required to file event disclosures on the Electronic Municipal Market Access (EMMA) system within 10 business days following the occurrence of a listed event. This requirement is part of the regulations set forth by the Municipal Securities Rulemaking Board (MSRB) to ensure that investors have timely access to important information that might affect the value of municipal securities. The 10-day timeframe allows for a balance between the need for prompt communication of significant events, such as defaults or rating changes, and the ability of issuers to gather the necessary information and prepare the disclosure. Meeting this requirement fosters transparency and promotes informed decision-making by investors in the municipal bond market.

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