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The Municipal Securities Rulemaking Boards proposed changes to extend its gift rule to municipal advisors remain unclear in crucial areas and do not go far enough to prevent abuses by both MAs and broker-dealers, the National Association of Municipal Advisors said.
October 19 -
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 Municipal Securities Rulemaking Board plans at its quarterly meeting next week to discuss its proposal to require dealers to disclose on retail customer confirmations the markups and markdowns on principal transactions.
October 14 -
Securities and Exchange Commission officials updated National Association of Municipal Advisors members here on the status of the commissions municipal advisor examinations and fielded individual questions about continuing compliance with the program.
October 13 -
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 -
Middle-market securities dealers need to redouble efforts to make their voices heard as regulators prepare to tighten the reins on the muni market, Bond Dealers of America members said.
October 9 -
Rebecca Olsen, deputy director of the Securities and Exchange Commissions office of municipal securities, has concerns about municipal advisor misconceptions she has heard about who can advise in the municipal market and who can be considered an independent registered municipal advisor.
October 9 -
The Securities and Exchange Commissions Office of Municipal Securities is weighing whether to provide legal interpretive guidance to help municipal advisors determine if they are acting as an adviser or broker-dealer when working with an issuer on a bank loan.
October 9 -
Resident Commissioner Pedro Pierluisi, D-P.R., has introduced a bill that would authorize the Treasury Department to guarantee future bonds issued by Puerto Rico and its authorities if it finds they have meaningfully improved the management of their finances.
October 8