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The Financial Industry Regulatory Authority has ordered R.M. Duncan Securities, its president and chief executive officer, and a broker to pay a combined $166,000 for selling defaulted municipal securities from their own accounts to seniors at unreasonably high prices and for not maintaining adequate supervisory procedures.
November 16 -
The second wave of underwriter settlements was similar to the first, but with some new details on issuers failures to comply with prior continuing disclosure undertakings.
November 16 -
Seven former Internal Revenue Service commissioners are decrying ongoing House and Senate appropriations cuts for the IRS, warning they are hurting tax enforcement as well as taxpayer assistance, among other things.
November 11 -
Issuers should monitor bond activity for compliance violations, an IRS tax law specialist said at a Bond Buyer conference in Providence, R.I.
October 27 -
Rating agencies are continuing to treat municipal issuers unfairly even though federal law required that practice to stop, former California Treasurer Bill Lockyer said.
October 23 -
South Carolinas Tuomey Healthcare System has negotiated a reduced settlement of $72.4 million with the Justice Department for filing 21,000 false Medicare claims.
October 20 -
Landolt Securities, Inc. has been ordered by the Financial Industry Regulatory Authority to pay $20,000 for violating municipal trade reporting, books and records, and supervisory rules.
October 15 -
Christopher Brogdon, who was at the center of more than a dozen problematic healthcare municipal bond deals for which at least $2 million was unaccounted for, will resign from the board of healthcare firm AdCare.
October 14 -
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.
October 13 -
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.
October 5