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Issuers and dealers are criticizing as incompatible with the municipal bond market the Municipal Securities Rulemaking Board's proposed rule changes to establish a process for determining markups and markdowns that may have to be disclosed to retail investors.
By Jack CaseyApril 4 -
The Federal Reserve on Friday released final rule changes to treat more municipal securities as high-quality liquid assets under liquidity requirements for large financial institutions, but critics complain they do not go far enough and could hurt the muni market.
By Jack CaseyApril 1 -
The Supreme Courts refusal to take up a case on the Securities and Exchange Commissions use of administrative proceedings to impose penalties in enforcement cases prompted a law firm to recommend those subject to administrative proceedings to challenge their constitutionality.
By Jack CaseyMarch 31 -
Draft legislation created by a House committee to help Puerto Rico has a good chance of moving forward with a lot of changes, but one major hurdle is its proposed temporary moratorium on litigation over Puerto Rico debt, sources said on Wednesday.
By Jack CaseyMarch 30 -
The official discussion draft bill released on Tuesday to help Puerto Rico is drawing criticism from nearly all sides.
By Jack CaseyMarch 29 -
The Securities and Exchange Commission on Friday approved a Municipal Securities Rulemaking Board proposal that extends MSRB board term lengths to four years from three.
By Jack CaseyMarch 18 -
Senate Finance Committee chair Orrin Hatch, R-Utah, on Thursday called for Democrats and the administration to be more transparent and realistic, after proposing unworkable solutions to Puerto Ricos crisis as Congress continues to work toward bipartisan legislation for the commonwealth.
By Jack CaseyMarch 17 -
A Financial Industry Regulatory Authority arbitration panel this week approved the removal of a complaint about Puerto Rico bonds from a financial advisors record after concluding the advisor kept the investor adequately informed of the risks posed by the bonds throughout their seven-year relationship.
By Jack CaseyMarch 17 -
The Financial Industry Regulatory Authority has censured and fined Edward Jones $200,000 for misrepresenting taxable customer interest as tax-exempt and failing to adequately monitor its supervisory systems meant to address short positions the firm had in municipal bonds.
By Jack CaseyMarch 16 -
For the first time in the municipal securities market, the Securities and Exchange Commission on Tuesday charged a municipal advisory firm, its chief executive officer, and two of its employees for breaching their fiduciary duty by failing to disclose a conflict of interest to a municipal client.
By Jack CaseyMarch 15