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The Securities and Exchange Commissions municipal enforcement unit could be bringing more cases with concurrent criminal charges in the future as it plans to increase its coordination with the Department of Justice and the Federal Bureau of Investigation.
April 18 -
First Winston Securities, Alton Securities Group, and MidAmerica Financial Services were ordered to pay a total of $115,000 in fines and restitution by the Financial Industry Regulatory Authority for violation of municipal securities rules.
April 15 -
In parallel actions on Thursday, the Securities and Exchange Commission and the U.S. district attorney for the Southern District of New York filed civil and criminal charges against Ramapo, N.Y., officials for misleading investors in connection with bonds issued to finance a minor league baseball stadium.
April 14 -
Securities and Exchange Commission chairman Mary Jo White cited a voluntary municipal continuing disclosure enforcement program for dealer and issuers as one of the commissions successful efforts at deter securities law violations and change market behavior.
April 12 -
The Securities Exchange Commission has charged Texas Attorney General Ken Paxton with securities fraud in a case involving a Texas-based technology company. Paxton was already under indictment in Texas for acting as an unregistered financial advisor.
April 11 -
The Conroe Industrial Development Corporation in Texas has paid a penalty and agreed to redeem bonds under the Internal Revenue Services voluntary closing agreement program (VCAP) to settle a tax violation relating to bonds it issued in 2008 and refunded in 2012.
April 11 -
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.
March 31 -
Some investors holding millions of dollars of bonds in default in the Florida panhandle are upset by what they see as inaction by trustee Bank of Oklahoma Financial and a fired employee with links to accused fraudster Christopher Brogdon.
March 29 -
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.
March 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.
March 15