On November 6, 2008, the Municipal Securities Rulemaking Board (MSRB) released Notice 2008-45 announcing that the MSRB filed with the Securities and Exchange Commission (SEC) a proposal to establish the continuing disclosure service of the MSRB’s Electronic Municipal Market Access System (EMMA).

The MSRB has requested that the SEC approve a start date of July 1, 2009 for its continuing disclosure service.  The continusing disclosure service would require any submission to be in a word-searchable portable document format (PDF) file.