Jack Casey

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.

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.

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.

The MSRB reminded dealers on Tuesday that they are required to tell investors when a muni has market discount.

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.

The head of the SEC’s Division of Trading and Markets has said he will leave his position by the start of the new year.

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.

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.

Securities and Exchange Commission chair Mary Jo White said in a speech on Friday that the municipal securities market is an example of an area where the commission has brought to bear its “bolder and more unrelenting approach to enforcement to change industry behavior.”

The Municipal Securities Rulemaking Board announced on Thursday that starting on Feb. 27, academic institutions will be able to request one-year data sets from a new data product that would identify dealers in some way without naming them.

The Securities and Exchange Commission’s whistleblower office fielded more allegations involving municipal securities and public pensions in fiscal year 2016 than ever before, according to a report the office sent to Congress about recent whistleblower activity.

The National Federation of Municipal Analysts has announced the 2016 winner of its annual Peter Fugiel Scholarship and acknowledged two honorable mentions.

Securities and Exchange Commission chair Mary Jo White on Tuesday said the numerous violations the commission's municipal continuing disclosure enforcement initiative uncovered may mean the SEC needs direct regulatory authority over issuers.

The Municipal Securities Rulemaking Board wants to amend its proposal to require dealers to disclose their markups and markdowns in certain transactions by lengthening its implementation timeline and clarifying provisions that market participants have criticized.

Securities and Exchange Commission chair Mary Jo White announced today that she will leave her position at the end of the Obama administration.

As government leaders both nationally and in Puerto Rico enter transition periods after last week’s elections, Treasury is reminding officials both old and new to give a high priority to assistance for the commonwealth.

Municipal market groups and other market participants are recommending that the Municipal Securities Rulemaking Board focus its future strategic priorities on improving its EMMA system and transparency as well as cost-benefit analyses of its rulemaking.

The Municipal Securities Rulemaking Board's proposal to require dealers to disclose their markups and markdowns in certain transactions is long overdue and will greatly benefit retail investors, said the Securities and Exchange Commission's Investor Advocate.

Scottrade has agreed to pay $150,000 to settle Financial Industry Regulatory Authority charges that it did not identify bonds as callable in approximately 5,000 municipal securities transactions.

The par amount of municipal trades continued to grow in the third quarter of 2016, reaching a three-year high and beating the total from the third quarter a year ago by more than 50%, according to recently released Municipal Securities Rulemaking Board statistics.