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WASHINGTON — Market participants are pushing back against attempts by Standard & Poor’s to rate municipal bond deals on the condition that the issuer agrees to accept both greater liability if the rating turns out to be faulty and an ongoing obligation to inform it of any material change to any information provided to the agency.
October 24 - Washington
WASHINGTON — Moving money market funds to a floating net-asset value would “help remove the perception” that MMF’s are risk-free and reduce investor incentives to flee distressed funds, but might be difficult to accomplish and lead to unintended consequences, the President’s Working Group on Financial Markets said in a report released Thursday.
October 21 -
WASHINGTON — As the majority-public Municipal Securities Rulemaking Board formally meets for the first time Wednesday through the end of the week, market participants are questioning whether some of its public representatives are really independent from regulated dealers and advisers.
October 19 -
The Financial Industry Regulatory Authority has fined four firms a total of $62,000 for errors in the reporting of municipal securities transactions, including $25,000 against Goldman, Sachs & Co., the self-regulator announced in monthly disciplinary decisions released Friday.
October 15 -
WASHINGTON - Retail sales increased 0.6% in September, their third consecutive monthly gain, the Commerce Department reported this morning.
October 15 -
WASHINGTON — The U.S. trade deficit grew faster than economists anticipated in August, rising $3.7 billion to a 22-month high of $46.3 billion, the Commerce Department said Thursday.
October 14 -
WASHINGTON - The U.S. trade deficit grew in August, rising a greater-than-expected $3.7 billion to $46.3 billion, the Commerce Department reported Thursday.
October 14 -
WASHINGTON — As the Municipal Securities Rulemaking Board begins to regulate an anxious and skeptical non-dealer advisory community, its new chairman, Michael Bartolotta of Dallas-based First Southwest Co., the largest dealer-advisory firm in the nation, is stressing that the MSRB’s rules will be fair to all regulated market participants.
October 13 -
WASHINGTON — The Securities and Exchange Commission announced Wednesday that it has signed off on a Municipal Securities Rulemaking Board proposal to post ratings directly onto the board’s EMMA site.
October 13 -
The Municipal Securities Rulemaking Board has hired Karen Du Brul as an associate general counsel to work on the rulemaking and policy team as it begins to write rules for muni advisers.
October 12 -
DETROIT — The Municipal Securities Rulemaking Board’s executive director on Friday tried to allay some of the concerns nondealer financial advisers have about the regulatory burdens they may face under MSRB oversight.
October 8 -
DETROIT — Independent financial advisers meeting here Thursday questioned the Securities and Exchange Commission’s Martha Mahan Haines about which advisers must register with the SEC under the new regulatory reform law, while Haines announced that the agency will hold its next field hearing on munis in Chicago on Nov. 16.
October 7 -
WASHINGTON — The Governmental Accounting Standards Board is set to kick off a series of public hearings next week on its preliminary draft pension-fund accounting and financial reporting standards that are designed to boost the disclosure of public pension liabilities but are proving to be controversial.
October 6 -
WASHINGTON — Market participants are sharply divided on the Municipal Securities Rulemaking Board’s draft proposal to prohibit dealers from underwriting new negotiated or competitive bond issues if they served as the issuer’s financial adviser on the transaction.
October 4 -
WASHINGTON — The Municipal Securities Rulemaking Board announced the members of its new, majority-public board Friday, hours after it proposed a series of large fee increases to defray the technology costs for its EMMA site as well as expenses tied to the regulation of municipal advisers under the Dodd-Frank Act.
October 1 -
WASHINGTON — The author of a seminal primer on municipal securities regulation, along with an attorney who successfully argued for Kentucky in the landmark Supreme Court case on states' preferential tax treatment, are among the 11 new members of the Municipal Securities Rulemaking Board.
October 1 - Washington
WASHINGTON — The Securities and Exchange Commission late Thursday signed off on rule changes that make the Municipal Securities Rulemaking Board a majority-public self-regulator and allow it to temporarily expand to 21 from 15 members beginning Friday, the start of its new fiscal year.
September 30 -
WASHINGTON — The Securities and Exchange Commission plans to launch its new office of municipal securities by the end of October, chairman Mary Schapiro said in prepared testimony presented to the Senate Banking Committee Thursday.
September 30 -
WASHINGTON — Initial jobless claims fell 16,000 to 453,000 filings the week ending Sept. 25 from 469,000 the previous week, the Labor Department reported Thursday. Continuing claims fell 83,000 to 4.457 million in the week ending Sept. 18.
September 30 -
WASHINGTON — The Securities and Exchange Commission plans to launch its new office of municipal securities by the end of October, SEC chairman Mary Schapiro plans to tell the Senate Banking Committee this morning.
September 30
