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An Illinois school district under federal scrutiny for its past misuse of bond proceeds saw its rating fall to junk as Moodys Investors Service lowered the Lincoln-Way Community High School District 210 one notch to Ba1.
December 19 -
Scottsdale settles dispute with IRS with payment of almost $751,000 and its authority settles claims with bond counsel for $75,000.
December 19 -
Revere Securities was fined $10,000 for trade reporting failures while two individuals were fined a total of $22,500 and suspended for improper trading of municipal securities and supervisory failures by the Financial Industry Regulatory Authority.
December 15 -
Brad Bennett, who oversaw many important municipal bond enforcement cases over nearly six years, plans to leave the Financial Industry Regulatory Authority as its enforcement chief early next year and return to private practice.
December 15 -
The IRS's Final Regulations represent a departure from current rules that will affect long-held practices for issuers, underwriters and financial advisors.
December 14 -
The Securities and Exchange Commission will not bring any more settlements under its Municipalities Continuing Disclosure Cooperation initiative and will instead focus on those underwriters and issuers that did not voluntarily disclose violations under the MCDC.
December 13 -
Former Miami budget director Michael Boudreaux plans to ask a federal district court by Jan. 3 to vacate a jurys verdict that he was guilty of securities fraud, according to his lawyer.
December 12 -
The Securities and Exchange Commissions top cop Andrew Ceresney plans to leave the SEC by the end of the year after helping to bring several ground-breaking municipal bonds and other enforcement cases.
December 8 -
State and federal judges in Wisconsin approved final settlement agreements with Stifel and Royal Bank of Canada to conclude an eight-year effort by five school districts to recoup $200 million lost on a risky investment product.
December 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.
December 6