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Nat Singer recently compared chairing the Municipal Securities Rulemaking Board to running a relay race. He said his leg of the race is to work with the board to move forward with rules such as those on municipal advisor core conduct and dealer disclosure of markups on principal trades and then hand the work off to the next chairman and board.
October 7 -
At least three major Wall Street firms have not settled with the Securities and Exchange Commission under its Municipalities Continuing Disclosure Cooperation initiative, noted some lawyers who were involved with a National Association of Bond Lawyers survey on the impact of MCDC.
October 5 -
The Municipal Securities Rulemaking Board is asking for industry feedback on a proposal to make board members more effective by changing the length of their terms to four years instead of three.
October 5 -
Utah Treasurer Richard Ellis has been tapped to serve a second three-year term as a public member of the Municipal Securities Rulemaking Board.
October 1 -
The Securities and Exchange Commission ordered 22 municipal securities underwriting firms to pay $4.12 million in civil penalties in the second round of what some lawyers said on Wednesday will be three total rounds of underwriter settlements under the commissions Municipalities Continuing Disclosure Cooperation initiative.
September 30 -
UBS Financial Services of Puerto Rico agreed to pay $34 million to settle charges by the Financial Industry Regulatory Authority and Securities and Exchange Commission that it failed to supervise the suitability of transactions in Puerto Rican closed-end fund shares, as well as a former broker who had customers invest in those CEFs using money borrowed from an affiliated bank.
September 29 -
A bond investors suspicions triggered a municipal bond trustees firing of a vice president but the question remains: what happened to more than $2 million?
September 29 -
In muni underwriting understanding who is obligated to make required disclosures and the content and timing of required disclosures are critically important.
September 28 -
Rep. Nydia Velázquez wants to extend protections under the Investment Company Act of 1940 to Puerto Rico, saying their absence caused Puerto Ricans to suffer losses when they invested in mutual funds heavily stocked with the financially struggling commonwealths bonds.
September 25 -
Dealers acting as principals would have to disclose markups and markdowns in transactions with retail customers under rule changes proposed by the Municipal Securities Rulemaking Board.
September 25