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Rep. Nydia Velázquez wants to extend protections under the Investment Company Act of 1940 to Puerto Rico, saying their absence caused Puerto Ricans to suffer losses when they invested in mutual funds heavily stocked with the financially struggling commonwealths bonds.
By Jack CaseySeptember 25 -
Dealers acting as principals would have to disclose markups and markdowns in transactions with retail customers under rule changes proposed by the Municipal Securities Rulemaking Board.
By Jack CaseySeptember 25 - Puerto Rico
Sen. Orrin Hatch, R-Utah, has announced four invited speakers who bring varying views on the merits of Chapter 9 bankruptcy protection in Puerto Rico for Tuesdays House Finance Committee hearing on the commonwealths fiscal health in light of its $71 billion in debt.
By Jack CaseySeptember 25 -
The Senate Finance Committee will hold a hearing on Sept. 29 to discuss the dire financial situation in Puerto Rico, committee chair Sen. Orrin Hatch, R-Utah, said Tuesday.
By Jack CaseySeptember 22 -
The Securities and Exchange Commissions five members unanimously agreed on Tuesday to propose a rule and amendments that would require open-end mutual funds and exchange traded funds to take steps to manage liquidity risks so they could handle redemptions during periods of financial stress.
By Jack CaseySeptember 22 -
The National Association of Bond Lawyers is calling for increased education of issuers on continuing disclosure in the wake of lessons learned from the Municipalities Continuing Disclosure Cooperation initiative.
By Jack CaseySeptember 21 -
The Municipal Securities Rulemaking Boards pending fee changes will be unfair and excessively burdensome, dealer and advisor groups told the Securities and Exchange Commission.
By Jack CaseySeptember 21 -
The total amount of outstanding municipal securities in the market rose 0.55% to $3.71 trillion in the second quarter of this year, while U.S. bank holdings followed suit rising to $477 billion, a 2.5% increase from the first quarters $465 billion.
By Jack CaseySeptember 18 -
The National Federation of Municipal Analysts has released the final version of its set of best practices for state government general obligation bond disclosure, the first part of an ongoing update to a set of recommended best practices from 2001.
By Jack CaseySeptember 18 -
The Municipal Securities Rulemaking Board has shelved its controversial proposal to ease independence standards to obtain a public investor on its board and will instead establish an investor advisory group.
By Jack CaseySeptember 17