After having been withdrawn from the energy bill in the Senate, controversial legislation to provide federal funds to Flint, Mich., and any other community facing a water crisis, has been included in a major water bill introduced in the chamber this week.
Sewon Kim has joined Siebert Brandford Shank as head of its Transportation Banking Group, the firm announced on Wednesday. Kim, a 16-year industry veteran, will be based in the firms New York City headquarters on Wall Street.
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The Municipal Securities Rulemaking Board is making its trade data available through a research platform to individuals associated with more than 400 institutions around the world, but without the controversial anonymous dealer identifiers in a proposed new product still under development.
Dustin McDonald, the current director of the Government Finance Officers Associations federal liaison center, is leaving GFOA on Friday to lead the marijuana technology company Weedmaps government relations practice. more »
A lawyer facing Securities and Exchange Commission charges that he violated federal securities laws as part of a pay-to-play scheme to secure Ohio pension business is arguing the commissions charges cannot apply to him and should be dismissed. more »
The two years since the announcement of the Securities and Exchange Commissions Municipalities Continuing Disclosure Cooperation initiative have contained vast improvements in disclosure for the municipal market but there are still issues to tackle and questions to ask as disclosure continues evolving, market participants speaking on a panel here said. more »
The Municipal Securities Rulemaking Boards proposal to require dealers acting as principals to disclose their markups and markdowns on retail confirmations would add complexity to the market and subject dealers to significant costs, dealers and others said here on Thursday. more »
About of 50 of the 650 registered municipal advisors were examined by the Securities and Exchange Commissions Office of Compliance Inspections and Examinations in fiscal 2015, the office director told House subcommittee members on Thursday. more »
The Municipal Securities Rulemaking Board will move forward with a revised proposal that would mandate municipal securities transactions be closed out within 20 instead of 30 days of settlement, Lynnette Kelly, the MSRBs executive director said on Monday. more »
The Securities and Exchange Commissions municipal enforcement unit could be bringing more cases with concurrent criminal charges in the future as it plans to increase its coordination with the Department of Justice and the Federal Bureau of Investigation. more »
Bond Dealers of America will be working on a full plate of issues this year as it helps its members navigate recent and ongoing regulatory developments while maintaining its educational and Capitol Hill-centered work, said new BDA board chair John Fechter. more »
First Winston Securities, Alton Securities Group, and MidAmerica Financial Services were ordered to pay a total of $115,000 in fines and restitution by the Financial Industry Regulatory Authority for violation of municipal securities rules. more »
In parallel actions on Thursday, the Securities and Exchange Commission and the U.S. district attorney for the Southern District of New York filed civil and criminal charges against Ramapo, N.Y., officials for misleading investors in connection with bonds issued to finance a minor league baseball stadium. more »
The House Committee on Natural Resources is moving forward with a bill to help Puerto Rico that loosens provisions regarding the oversight board but still keeps the cram down and debt litigation moratorium portions of an earlier version that drew criticism. more »
The Securities Industry and Financial Markets Association is pressing the Securities and Exchange Commission to update and modernize its municipal securities disclosure rule as well as develop a parallel rule that gives municipal advisors continuing disclosure responsibilities. more »
Brian Fraser, co-chair of the litigation department at Richards Kibbe & Orbe LLP, examines the challenges of distinguishing a loan from a bond and a loan from a security, in a chat with Bond Buyer northeast regional editor Paul Burton.
Worst case, to-maturity debt service calculations that ignore the issuer's optional redemption feature lead to flatly wrong calculations for critical items like expected capital cost, refunding savings, and simple, basic principal and interest payments.