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The Supreme Court on Monday issued an opinion affirming that a local Puerto Rico debt restructuring law is unconstitutional, leaving congressional action on a House bill as the most viable option left for the struggling commonwealth to deal with its debt crisis.
By Jack CaseyJune 13 -
U.S. banks' holdings of municipal bonds increased to $507.5 billion in the first quarter of 2016, a 1.7% gain from the $499 billion of holdings in the fourth quarter of 2015.
By Jack CaseyJune 10 -
The full Senate is expected to take up the Puerto Rico bill passed by the House and vote on it before the end of the month or in early July.
By Jack CaseyJune 10 -
The Securities Industry and Financial Markets Association is urging the Securities and Exchange Commission to amend its Rule 15c2-12 on municipal bond disclosure and provide more guidance in this area.
By Jack CaseyJune 10 -
A House bill designed to help Puerto Rico will now move to the Senate after House members passed the bill 297 to 127 during a session that stretched into early Thursday evening.
By Jack CaseyJune 9 -
The full House is expected to vote today on a bill designed to help Puerto Rico after the House Rules Committee set the table for the bill's consideration during a lengthy hearing that stretched into Wednesday night.
By Jack CaseyJune 9 -
Rep. Jeb Hensarling, R-Tex., plans to introduce an alternative to the Dodd-Frank Act that would, among other things, stop the Municipal Securities Rulemaking Board from receiving some of the muni rule enforcement fines collected by regulators and repeal the Volcker Rule.
By Jack CaseyJune 7 -
Lawyers with Orrick, Herrington & Sutcliffe are concerned about a ruling by a federal appeals court last week that found a constitutional challenge to the Securities and Exchange Commission's use of administrative proceedings to impose penalties in enforcement cases could not move forward until the proceedings end.
By Jack CaseyJune 6 -
Presidential candidate and Sen. Bernie Sanders, I-Vt., has vowed to introduce an alternative bill to one pending before the House that CBO says would cost the territory $370 million over ten years.
By Jack CaseyJune 2 -
The Securities and Exchange Commission and Miami have each asked a federal judge in Florida to rule in their favor before a trial can be held over the SECs fraud charges against the city and a former city official.
By Jack CaseyJune 2