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In a first-of-a-kind verdict, a Miami jury found on Wednesday that Miami and its former budget director, Michael Boudreaux, were guilty of securities fraud for faulty disclosures in connection with three 2009 municipal bond offerings.
September 14 -
Amid a federal corruption probe, Opa-locka, Fla.'s former manager, David Chiverton pleaded guilty to taking pay-offs as a state financial oversight panel attempts to prevent the city from having to file for bankruptcy.
September 13 -
The Financial Industry Regulatory Authority ordered UBS to pay $750,000 in damages to two Puerto Rico bondholders.
September 13 -
Stifel, Nicolaus & Co. has preliminarily agreed to pay a penalty and disgorge ill-gotten gains to settle SEC charges that it misled five Wisconsin school districts, which ultimately lost $200 million from investments that failed during the financial crisis.
September 12 -
The Securities and Exchange Commission on Friday announced that a subsidiary of BOK Financial Corp. that served as indenture trustee and dissemination agent for municipal conduit bonds previously tied to securities fraud has agreed to pay more than $1.6 million to settle charges that it helped to conceal numerous problems and red flags from investors in the securities.
September 9 -
The Government Finance Officers Association and the National Association of Bond Lawyers on Thursday each issued guidance to issuers and counsel on how to comply with tax-exempt bond rules after the issuance of tax-advantaged bonds.
September 8 -
The Government Finance Officers Association sent an alert to its members on Thursday about the importance of timely disclosures in the wake of issuer settlements with the Securities and Exchange Commission under its voluntary continuing disclosure enforcement initiative.
September 8 -
The Ramapo Local Development Corp. and three individuals facing Securities and Exchange Commission securities fraud charges are asking a federal judge to dismiss the SEC's complaint, claiming, among other things, that no one was hurt.
September 6 -
The Securities and Exchange Commission is asking a federal judge to allow it to submit an amended complaint that includes much more detailed charges against banker Peter Cannava in connection with an ill-fated private placement for startup video game company 38 Studios.
September 1 -
West Virginias attorney general has reached settlements totaling $1.28 million with four firms in a lawsuit that alleged they engaged in bid rigging and price fixing for municipal investments, the latest action in federal and state investigations of bid rigging in the muni market that stretch back more than ten years.
August 31