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MSRB to Propose Extending Dealer Contributions, Gifts Rules This Year
The Municipal Securities Rulemaking Board plans later this year to propose changes to Rules G-37, on political contributions, and G-20, on gifts and gratuities, to extend these dealer rules to municipal advisors, the executive director said on Tuesday.
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A coalition of state and city finance officials led by Rhode Island Treasurer Seth Magaziner wants the SEC to require greater transparency from PE firms that manage public pension funds. more »
The Financial Industry Regulatory Authority fined three firms a total of $57,500 for municipal bond trade reporting violations. The self-regulator also suspended a former broker-dealer cashier for six months for fictitious trades. more »
Mayor Stephen Reed "could not have acted alone," Pennsylvania Attorney General Kathleen Kane said in announcing corruption charges. more »
Two senators have introduced a bipartisan bill that would give the Securities and Exchange Commission the ability to levy higher civil monetary penalties against firms and individuals for securities law violations. more »
Orrick, Herrington & Sutcliffe LLP attorneys take a look at the Securities and Exchange Commission settlements with 36 municipal securities underwriters pursuant to the Municipalities Continuing Disclosure Cooperation initiative. more »
The Supreme Court has declined to hear the case of ex-Miami, Fla. budget director Michael Boudreaux, sending the former official and the city back to court to fight a Securities and Exchange Commission lawsuit in a move some lawyers fear could hurt municipal officials' abilities to do their jobs. more »
A federal judge in Alabama has ordered mediation in the Securities and Exchange Commission’s pay-to-play suit against two ex-JPMorgan bankers involved in Jefferson County sewer deals. more »
In penalizing corporate wrongdoers with fines, the justice system is missing a crucial component of what criminal law is supposed to be about. Criminal law is supposed to address wrongs against society. more »
Scranton disregarded pension laws in its payment of double benefits to 35 employees over the last 12 years at a cost of $2.9 million, said Pennsylvania Auditor General Eugene DePasquale. more »
State and private universities, local and state government agencies, and even the federal government have announced significant data breaches that compromised information and caused significant operational disruptions. more »
The Securities and Exchange Commission tried to refute criticisms of its controversial disclosure violations self-reporting program while providing some hints about its attitudes toward what violations are important to investors, lawyers said Monday. more »
Rhode Island asset manager Michael Riley has asked the SEC to examine the Providence, R.I., pension fund over a $62 million spike in its unfunded liability. more »
The Securities and Exchange Commission today announced enforcement actions against 36 municipal underwriting firms Thursday for violations in muni bond offerings, fining them a total of about $9.3 million in settlements under the Municipalities Continuing Disclosure Cooperation initiative. more »

Orrick, Herrington & Sutcliffe LLP attorneys take a look at the Securities and Exchange Commission settlements with 36 municipal securities underwriters pursuant to the Municipalities Continuing Disclosure Cooperation initiative.

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