Andrew Ackerman

WASHINGTON — At least six state securities regulators are considering enforcement action against banks and broker-dealers that have failed to commit their “best efforts” to restore liquidity to institutional investors in auction-rate securities, according to David Massey, North Carolina’s deputy securities ­administrator.

The U.S. trade deficit widened more than analysts expected in February, growing by 7.4%, or $2.7 billion, to $39.7 billion, the Commerce Department reported yesterday.

WASHINGTON - The U.S. trade deficit widened more than analysts’ expected in February, growing by 7.4%, or $2.7 billion, to $39.7 billion, the Commerce Department reported today.

The Financial Industry Regulatory Authority fined D.A. Davidson & Co. $375,000 for failing to protect confidential customer information that hackers stole from its computer systems in late 2007, but credited the firm for its response to customers after it learned of the breach and for cooperating with criminal law enforcement agencies.

WASHINGTON — A group of California cities and localities are urging a federal judge in Manhattan not to dismiss the 13 cases they brought against Wells Fargo & Co. and 44 other banks, broker-dealers and investment brokers, charging they conspired to rig bids and fix prices of guaranteed investment and derivatives contracts in the muni market.

In a rare move for a lawmaker, House Financial Services Committee chairman Barney Frank announced Thursday that he has prohibited his staff from having any contact with a former aide who joined a company that operates derivatives exchanges after playing a key role in writing last year’s derivatives legislation.

WASHINGTON — House Financial Services Committee chairman Barney Frank, D-Mass., issued an unusual statement Thursday in which he announced he has directed his staff to have no contact with a former aide who joined a company involved in operating derivatives exchanges after he played a key role last year in writing financial regulatory reform legislation that includes a section on derivatives.

WASHINGTON — President Obama’s enactment of a new law yesterday that would require all federally guaranteed student loans to be originated by the federal government has led the state and nonprofit entities that have historically loaned to students to contemplate their future in the market.

The executive board of the Government Finance Officers Association is again engaging in a spirited dispute against the Governmental Accounting Standards Board, this time arguing that it should cease its work on a project that aims to set standards for forward-looking statements in government financial documents.

WASHINGTON — John Kendrick, the former Southwest Securities Inc. banker who is being charged in a Securities and Exchange Commission administrative proceeding for allegedly violating pay-to-play restrictions, wants to reach a settlement with the SEC but is considering taking legal action against his former employer.

WASHINGTON — Southwest Securities Inc. has agreed to pay $470,147 to settle charges with the Securities and Exchange Commission for violating an anti-pay-to-play rule by co-underwriting Massachusetts bond deals within two years after its former senior vice president made political contributions to state Treasurer Timothy Cahill.

WASHINGTON — Southwest Securities Inc. has agreed to pay $470,147 to settle charges with the Securities and Exchange Commission that it co-underwrote Massachusetts bond deals within two years after its former senior vice president made political contributions to state Treasurer Timothy Cahill.

WASHINGTON — Money-market fund officials are warning that new terms some banks and issuers are beginning to include in variable-rate debt transaction documents can be difficult to monitor and limit bondholders’ rights.

WASHINGTON — The Senate Banking Committee voted 13 to 10 along party lines Monday evening to approve a redrafted financial regulatory reform bill, with Republicans voting against the measure but vowing to work with Democrats on a compromise package before the bill reaches the full Senate for consideration, possibly next month.

WASHINGTON — With the Senate Banking Committee scheduled to begin marking up draft financial regulatory reform language as early as today, market participants are hopeful that lawmakers will be keen to fill potential loopholes in the bill’s provisions calling for the regulation of municipal market advisers.

WASHINGTON — The Securities and Exchange Commission issued an unusual report Thursday that showed JPMorgan did not comply with the Municipal Securities Rulemaking Board’s Rule G-37 on political contributions. But the report did not charge the firm with any violation of the rule or recommend any enforcement action.

Led largely by an increase in the deficit on goods, the imbalance in the U.S. current account rose in the fourth quarter to $115.6 billion from a revised $102.3 billion in the third quarter, the Commerce Department reported yesterday.

WASHINGTON - Led largely by an increase in the deficit on goods, the imbalance in the U.S. current account rose in the fourth quarter to $115.6 billion from a revised $102.3 billion in the third quarter, the Commerce Department reported this morning.

WASHINGTON — Moody's Investors Service plans in mid-April to move to a global scale for its municipal bond ratings so that they are more in line with its corporate debt ratings, after postponing the initiative during the height of the financial crisis.

WASHINGTON — Moody's Investors Service plans in mid-April to move to a global scale for its municipal bond ratings so that they are more in line with its corporate debt ratings, after postponing the initiative during the height of the financial crisis.