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The Securities and Exchange Commission has charged a New York City-based financial advisor with fraud, saying he stole at least $20 million from customers who were told their money would be invested in municipal bonds when it actually evaporated in riskier trades.
April 16 -
The Financial Industry Regulatory Authority fined two firms $55,000 for muni trade rule violations and suspended a former broker, as well as fined him to pay $5,000 in fines and ordered him to disgorge $2,837 of ill-gotten gains plus interest, for making unsuitable municipal securities recommendations to clients.
April 15 -
Two divisions of Morgan Stanley have agreed to be censured and pay $675,000 to settle Financial Industry Regulatory Authority charges that the dealers misrepresented taxable municipal bond interest paid to customers as tax-exempt.
April 10 -
Nine large public pension funds, including those from New York and Connecticut, have asked the SEC to strengthen the disclosure of corporate board diversity.
April 6 -
A federal appeals court will hear oral arguments May 15 in the case of three convicted bid riggers seeking to have their convictions overturned.
March 25 -
A Republican congressman said Tuesday he is concerned that the Securities and Exchange Commission's approach to municipal market enforcement risks creating an environment where only big players will get a seat at the table.
March 24 -
Former RBC Capital Markets managing director Mel Schonhorst achieved a measure of success after seven years trying to clear his name in a Texas investigation that cost him his job though he was never accused of anything.
March 23 -
Lawmakers are concerned about the Securities and Exchange Commission's extensive use of administrative proceedings to enforce securities laws in the wake of the Dodd-Frank Act, a trend that has not extended to municipal cases.
March 19 -
Former Miami budget director Michael Boudreaux wants the U.S. Supreme Court to grant him immunity from a Securities and Exchange Commission lawsuit that has attracted a lot of attention from issuer officials and attorneys.
March 18 -
A federal ruling against states may set a precedent for risky local spending on broadband, credit analysts said.
March 16