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Two Citigroup companies agreed to pay $180 million on Monday to settle charges they defrauded investors by misrepresenting that investments in two now-defunct hedge funds were safe, low-risk and suitable for traditional bond investors.
August 17 -
The Financial Industry Regulatory Authority has censored and fined UBS Financial Services $750,000 for falsely representing to its customers that the interest on their municipal bond payments was tax-exempt when it was taxable.
August 14 -
Pennsylvania issued a request for proposals to hire a law firm to initiate clawback from participants in the Harrisburg incinerator bond financing fiasco.
August 14 -
Securities and Exchange Commission members are calling for the adoption of rules requiring broker-dealers to disclose markups and markdowns on municipal securities, warning that if self-regulators do not act, the SEC will propose the rules itself.
August 13 -
The Securities and Exchange Commission has asked for an extension to decide whether to approve the Municipal Securities Rulemaking Board's proposed Rule G-42 on the core duties of municipal advisors.
August 7 -
The Senate Appropriations Committee's fiscal 2016 financial services bill would significantly underfund the Securities and Exchange Commission and undermine the Internal Revenue Service's ability to carry out basic functions, Office of Management and Budget director Shaun Donovan warned committee leaders in a letter this week.
August 6 -
The Municipal Securities Rulemaking Board issued a media advisory on Tuesday warning of possible problems its anti-pay-to-play rule could cause for governors who are running for president and Wall Street firms that may contribute to them.
August 4 -
The Municipal Securities Rulemaking Board plans later this year to propose changes to Rules G-37, on political contributions, and G-20, on gifts and gratuities, to extend these dealer rules to municipal advisors, the executive director said on Tuesday.
July 29 -
A coalition of state and city finance officials led by Rhode Island Treasurer Seth Magaziner wants the SEC to require greater transparency from PE firms that manage public pension funds.
July 23 -
The Financial Industry Regulatory Authority fined three firms a total of $57,500 for municipal bond trade reporting violations. The self-regulator also suspended a former broker-dealer cashier for six months for fictitious trades.
July 15