New York Legislator Wants Bond Fees Disclosed

· Story link

Bond counsel and others involved in helping state and local governments market bonds typically take a percentage of the total issue as a fee. It’s a lucrative business and one New York state senator has decided the public ought to know just how lucrative. Sen. David Valesky is filing a bill to require disclosure of the fees paid. If it’s a mere one percent of the bond issues total, advisors in New York state last year earned $430 million. (1/11/06)