Quantcast
SIFMA Warns Fed Basel Capital Standards for Trading Would Hurt Munis
The Securities Industry and Financial Markets Association wants bank regulators to avoid adopting harsh international capital standards for trading that could have a chilling effect on the municipal market and hurt liquidity.  more »
"The higher costs of holding trading inventory would have a chilling effect on all dealers' ability to trade bonds and would materially erode liquidity in the market," said Michael Decker, managing director and co-head of munis with SIFMA.
The Financial Industry Regulatory Authority has ordered UBS to pay two Puerto Rican residents $18.4 million in damages, interest, and other fees over the residents’ investments in closed-end mutual funds concentrated in Puerto Rico bonds. more »
The MSRB issued interpretive guidance on how its rules apply to accounts that are fully managed by a registered investment advisor that is also a sophisticated municipal market professional. more »
The SEC, in a court filing on Tuesday, said former Miami budget director Michael Boudreaux's arguments against penalties the SEC wants to impose on him for securities fraud show a lack of responsibility and respect for the jury verdict that found him guilty. more »
The Financial Industry Regulatory Authority found that Merrill Lynch failed to properly supervise customers’ investments in Puerto Rico bonds and closed-end funds. more »
The Municipal Securities Rulemaking Board has announced that its dealer markup rule will take effect on May 14, 2018. more »
The Financial Services Institute has joined three state Republican groups in urging federal appeals court judges to vacate changes to a pay-to-play rule that they say harms market participants’ First Amendment rights. more »
The Securities and Exchange Commission's Office of Municipal Securities may propose changes to Rule 15c2-12 that would amend the list of event notices dealers must ensure issuers are disclosing. more »
Robert Crowe, the alleged fundraising expert for a pay-to-play scheme that took place in 2010 and 2011, is fighting the SEC’s fraud charges against him in Ohio federal court. more »
The MSRB reminded dealers on Tuesday that they are required to tell investors when a muni has market discount. more »
Municipal advisors want the MSRB to take more time to consider how its proposed continuing education requirements for advisors would fit into the existing MA regulatory structure as well as provide details about how firms can best comply. more »
The median audit reporting time for all municipal bond-related sectors in fiscal year 2015 was the highest it has been since 2008, likely because of recent pension reporting rules. more »
Dealers are unhappy the Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board’s proposal to require them to disclose their markups and markdowns to retail customers in certain transactions. more »
A banker who serves on issuer charitable groups and donates to them raises conflict of interest questions. more »

Climate Bonds Initiative CEO Sean Kidney, in a spirited chat from London with northeast regional editor Paul Burton, charts the landscape for the U.S. municipal green bond issuance.

Here are some of the key "known unknowns" — factors that are likely to affect valuations and creditworthiness and functioning in the state and local finance sector — as the Trump Administration and Congress sort them out.

Upcoming Events

Career Zone

Jobs
Already a subscriber? Log in here
Please note you must now log in with your email address and password.