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A bill introduced by Rep. Gwen Moore, D-Wis., that would shift municipal disclosure responsibilities to issuers and borrowers from underwriters could drive some localities out of the market, issuer officials warned Moores chief of staff on Thursday.
By Jack CaseyDecember 8 - Puerto Rico
Sen. Marco Rubio introduced a bill on Tuesday that he said would raise wages for workers in Puerto Rico and make hiring new employees more attractive.
By Jack CaseyDecember 7 -
Former Miami budget director Michael Boudreaux will face a much lighter penalty for securities fraud than the Securities and Exchange Commission sought, after a federal court judge found that the commission overreached in its requests to have Boudreaux enjoined and fined $450,000.
By Jack CaseyDecember 6 -
The Financial Industry Regulatory Authority has ordered UBS to pay two Puerto Rican residents $18.4 million in damages, interest, and other fees over the residents investments in closed-end mutual funds concentrated in Puerto Rico bonds.
By Jack CaseyDecember 5 - Puerto Rico
While Congress and the Treasury Department have put a framework in place for Puerto Ricos recovery, the key challenge ahead is whether they will be able to work together on health care and tax initiatives to spur economic growth in the commonwealth, said Kent Hiteshew, director of the Treasurys Office of State and Local Finance.
By Jack CaseyDecember 5 -
The Securities Industry and Financial Markets Association wants bank regulators to avoid adopting harsh international capital standards for trading that could have a chilling effect on the municipal market and hurt liquidity.
By Jack CaseyDecember 2 -
The MSRB issued interpretive guidance on how its rules apply to accounts that are fully managed by a registered investment advisor that is also a sophisticated municipal market professional.
By Jack CaseyDecember 1 -
The SEC, in a court filing on Tuesday, said former Miami budget director Michael Boudreaux's arguments against penalties the SEC wants to impose on him for securities fraud show a lack of responsibility and respect for the jury verdict that found him guilty.
By Jack CaseyNovember 30 -
The Financial Industry Regulatory Authority found that Merrill Lynch failed to properly supervise customers investments in Puerto Rico bonds and closed-end funds.
By Jack CaseyNovember 30 -
The Municipal Securities Rulemaking Board has announced that its dealer markup rule will take effect on May 14, 2018.
By Jack CaseyNovember 29