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The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.
November 17 -
Florida's Palm Beach County School Board will consider a staff recommendation to file under the SEC's MCDC self-reporting disclosure initiative after learning that underwriters have already reported the district under the program.
November 14 -
A federal appeals court appears likely to hear oral arguments in the case of three convicted UBS AG bid riggers early next year, according to documents filed with the court this week.
November 13 -
An issuer has publicly disclosed its agreement to participate the Municipalities Continuing Disclosure Cooperation initiative, a decision several bond lawyers said could be a major misstep.
November 12 -
The municipal market should expect increased attention from the Securities and Exchange Commission's enforcement division, with a focus on pension fund abuses and pay to play violations, the SEC's top cop said Monday.
November 10 -
The Securities and Exchange Commission's unprecedented enforcement action against a former municipal official earlier this week in a case involving Allen Park, Mich. should make public leaders aware and cautious, legal experts and issuer officials said Friday.
November 7 -
The Fix LA Coalition, an effort spearheaded by labor unions and its allies, wants Los Angeles City Attorney Mike Feuer to file a regulatory complaint against the underwriters involved in 2006 interest rate swaps saying the risks weren't disclosed.
November 7 -
The city of Allen Park, Mich., is preparing to refinance up to $28 million of bonds that were the target of fraud charges and a recent settlement by the Securities and Exchange Commission.
November 7 -
The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.
November 6 -
The Securities and Exchange Commission's enforcement action against 13 dealer firms Monday represents a broad commission effort to correct behavior that was probably due to mistakes by individual traders dealing with an unusual bond issuance, attorneys and market participants said Tuesday.
November 4