SEC Files Best-Ex Rule With SEC for Approval
The Municipal Securities Rulemaking Board has asked the Securities and Exchange Commission to approve its proposal to require municipal securities dealers to seek the most favorable price possible when executing transactions for most investors.
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The Puerto Rico Electric Power Authority's decision in its forbearance agreement to disclose certain information to only some its bondholders could put both PREPA and those investors at an increased risk of committing securities law violations, disclosure experts said Wednesday.  more »
The Securities and Exchange Commission's Office of Compliance Inspections and Examinations has launched a program to scrutinize newly-regulated municipal advisors, the SEC announced Tuesday.  more »
States had $915 billion of unfunded pension benefits, $757 billion in outstanding public debt, and $577 billion of unfunded retire health care and other non-pension benefits in fiscal 2012, according to a report on States' Fiscal Health released by The Pew Charitable Trusts on Tuesday.  more »
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Personal income taxes and possibly all state taxes appear to be down in the second quarter of this year based on preliminary data, the Rockefeller Institute of Government of the State University of New York said in a report released Thursday.  more »

Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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