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The Financial Industry Regulatory Authority ordered San Juan-based Santander Securities on Tuesday to pay $6.4 million for supervisory failures related to Puerto Rican municipal bonds.
By Jack CaseyOctober 13 -
Rebecca Olsen, deputy director of the Securities and Exchange Commissions office of municipal securities, has concerns about municipal advisor misconceptions she has heard about who can advise in the municipal market and who can be considered an independent registered municipal advisor.
By Jack CaseyOctober 9 -
The Securities and Exchange Commissions Office of Municipal Securities is weighing whether to provide legal interpretive guidance to help municipal advisors determine if they are acting as an adviser or broker-dealer when working with an issuer on a bank loan.
By Jack CaseyOctober 9 -
Nat Singer recently compared chairing the Municipal Securities Rulemaking Board to running a relay race. He said his leg of the race is to work with the board to move forward with rules such as those on municipal advisor core conduct and dealer disclosure of markups on principal trades and then hand the work off to the next chairman and board.
By Jack CaseyOctober 7 -
At least three major Wall Street firms have not settled with the Securities and Exchange Commission under its Municipalities Continuing Disclosure Cooperation initiative, noted some lawyers who were involved with a National Association of Bond Lawyers survey on the impact of MCDC.
By Jack CaseyOctober 5 -
The Municipal Securities Rulemaking Board is asking for industry feedback on a proposal to make board members more effective by changing the length of their terms to four years instead of three.
By Jack CaseyOctober 5 -
Six advocacy groups are urging two key Senate Republicans to keep Congress from providing Puerto Rico with access to Chapter 9 bankruptcy protection.
By Jack CaseyOctober 2 - Puerto Rico
The top Democrat on the House Natural Resources Committee is urging the committee chair to hold a hearing to cast a spotlight on the gross inequity hedge funds holding Puerto Rico debt are imposing on the commonwealths citizens.
By Jack CaseyOctober 1 -
The Securities and Exchange Commission ordered 22 municipal securities underwriting firms to pay $4.12 million in civil penalties in the second round of what some lawyers said on Wednesday will be three total rounds of underwriter settlements under the commissions Municipalities Continuing Disclosure Cooperation initiative.
By Jack CaseySeptember 30 - Puerto Rico
Key Senate Republicans made clear during a Senate Finance Committee hearing on Tuesday that they do not intend to move forward with bills providing Chapter 9 bankruptcy protection for Puerto Ricos authorities and instead want more information on the territorys struggling finances and $71 billion of debt as well as how to fix them.
By Jack CaseySeptember 29