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In a first of a kind case, two California-based municipal advisory firms and their executives agreed to pay a total of $200,000 to settle Securities and Exchange Commission charges that they used deceptive business practices in dealing with five school districts.
June 13 -
Attorney Robert W. Cook has been tapped by the Financial Industry Regulatory Authoritys board of governors to become chief executive officer of FINRA during the second half of the year.
June 13 -
U.S. banks' holdings of municipal bonds increased to $507.5 billion in the first quarter of 2016, a 1.7% gain from the $499 billion of holdings in the fourth quarter of 2015.
June 10 -
The full Senate is expected to take up the Puerto Rico bill passed by the House and vote on it before the end of the month or in early July.
June 10 -
The Securities Industry and Financial Markets Association is urging the Securities and Exchange Commission to amend its Rule 15c2-12 on municipal bond disclosure and provide more guidance in this area.
June 10 -
The Government Finance Officers Association has released a five-page primer on municipal advisor rules that should be entitled, Everything you need to know about these rules and how they affect issuers.
June 9 -
Rep. Jeb Hensarling, R-Tex., plans to introduce an alternative to the Dodd-Frank Act that would, among other things, stop the Municipal Securities Rulemaking Board from receiving some of the muni rule enforcement fines collected by regulators and repeal the Volcker Rule.
June 7 -
Lawyers with Orrick, Herrington & Sutcliffe are concerned about a ruling by a federal appeals court last week that found a constitutional challenge to the Securities and Exchange Commission's use of administrative proceedings to impose penalties in enforcement cases could not move forward until the proceedings end.
June 6 -
States like Colorado will continue to forego revenue, as well as the opportunity to borrow against that revenue in the bond market, until the cannabis industry gains access to the banking system.
June 6 -
The Securities and Exchange Commission and Miami have each asked a federal judge in Florida to rule in their favor before a trial can be held over the SECs fraud charges against the city and a former city official.
June 2