Why the SEC Says it Can't Fight a Challenge to a Pay-To-Play Rule
The Securities and Exchange Commission is arguing it can't fight a lawsuit challenging a revised rule to curb municipal securities pay-to-play activity because the fiscal 2016 appropriations act prohibits it from spending money on any rules governing political contributions.  more »
PHILADELPHIA — After the presidential election, the United States may see a "golden moment" to push for increased federal and state spending to fix America's crumbling infrastructure, according to Democratic mayors speaking a policy meeting at Philadelphia on Tuesday.  more »
California Treasurer John Chiang announced that municipal finance firms seeking state business will be required to certify that they will make no contributions to local bond election campaigns in the state.  more »
The town of Ramapo, N.Y. and one of four individuals charged with securities fraud by the Securities and Exchange Commission for misleading muni bond investors are disputing the charges and urging a federal judge to dismiss the case.  more »

Maria Doulis of the watchdog Citizens Budget Commission and Howard Cure of Evercore Wealth Management dissect New York City's $82 billion budget with Bond Buyer Northeast regional editor Paul Burton. They explore efficiencies, debt management, reserves, the economy, the capital budget and Mayor Bill de Blasio's plan to overhaul Health + Hospitals.

Not enough has been done to provide municipal issuers, obligated parties and underwriters the clarity sought and needed by the market.

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