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A guilty plea from Aaron Troodler, the former executive director of the Ramapo Local Development Corp., for criminal securities fraud means he could face a maximum of 25 years in prison.
By Jack CaseyMarch 8 -
The Municipal Securities Rulemaking Board has released criteria that will generally require the top five firms submitting to certain of the self-regulators systems to participate in Securities and Exchange Commission-mandated business continuity and disaster recovery plan testing.
By Jack CaseyMarch 7 -
Marrien Neilson, the former BOK Financial employee the SEC said was responsible for concealing some of Christopher Brogdon's securities fraud, agreed to a first of a kind ban on her acting as an indenture trustee or dissemination agent for municipal bonds as well as a $55,000 payment to settle the charges.
By Jack CaseyMarch 7 -
Dealers are criticizing a proposed standalone minimum denomination rule from the Municipal Securities Rulemaking Board, saying it would hamper liquidity and hurt investors by limiting the liquidity of below-minimum denomination positions in municipal securities.
By Jack CaseyMarch 6 -
The Securities and Exchange Commission will weigh two amendments to required material event notices under its Rule 15c2-12 during a meeting on March 1 that may include discussion of adding bank loans and private placements to the 14-item event list.
By Jack CaseyFebruary 24 -
Six holders of municipal revenue bonds underwritten by Christopher Brogdon are trying to recover as much as $1 million in lost capital as well as other expenses from bond trustee BOK Financial Securities.
By Jack CaseyFebruary 23 -
Morgan Stanley will pay a $115,000 fine and $55,284 in restitution after FINRA found the firm engaged in muni transactions where it charged prices that were not fair or reasonable.
By Jack CaseyFebruary 22 -
Christopher Morrill, Roanoke, Va.s city manager, will replace Jeff Esser in May as GFOA executive director as municipal issuers face "challenging times."
By Jack CaseyFebruary 22 -
Julie Egan, the new chair of the National Federation of Municipal Analysts, wants to increase NFMAs visibility in the municipal market in 2017 and push regulators for more improvements to muni disclosure.
By Jack CaseyFebruary 17 -
The Municipal Securities Rulemaking Board is asking for comments both on draft amendments to its current dealer advertising rule that would harmonize it with other regulators rules as well as on a proposed rule that would extend many of those dealer provisions to municipal advisors.
By Jack CaseyFebruary 16