Jack Casey

Senate Finance Committee chair Orrin Hatch on Wednesday demanded Puerto Rico Gov. Alejandro Garcia Padilla provide detailed financial information by March 1 and said he wants to come up with a plan to help the commonwealth by the end of that month.

The Securities and Exchange Commission has plans to increase its examination and enforcement staff as President Obama announced in his budget on Tuesday that he wants to double the SEC’s budget by fiscal year 2021, starting with a $200 million increase to $1.78 billion in 2017.

A House committee will hear Treasury's Antonio Weiss discuss an analysis of Puerto Rico on Feb. 25, as lawmakers coalesce around a bill that would give the territory's authorities bankruptcy access in return for creation of a financial stability council.

Representatives for Puerto Rico on Friday said the cash-strapped commonwealth plans to pursue its recently proposed debt exchange with creditors holding tax-supported debt even if the territory eventually gets access to bankruptcy or some other type of restructuring process.

The Washington Metropolitan Area Transit Authority’s chief financial officer on Thursday contradicted press reports that the authority may have to have discussions with its bondholders to ease its debt.

The Supreme Court has set March 22 as the date it will hear oral arguments on an appeal of a lower court ruling that a local Puerto Rico restructuring law is not allowed under federal bankruptcy law.

The Securities and Exchange Commission’s release of a final round of 14 underwriter settlements under its self-reporting initiative may indicate issuer settlement s are next.

The House Natural Resources Committee will “very soon” begin forming legislation designed to aid Puerto Rico following a hearing one of its panels held on Tuesday on the need for a federal oversight authority in the commonwealth, said committee chair Rob Bishop, R-Utah.

House Natural Resources Committee Chair Rob Bishop, R-Utah, said on Monday he believes the House can meet a March 31 deadline to have a responsible legislative package to help Puerto Rico as the commonwealth is negotiating with creditors on a new bond exchange proposal.

The Municipal Securities Rulemaking Board will seek public comment on both how dealers should calculate the prevailing market price under its proposal requiring dealer disclosure of markups to retail customers and how it could get more issuers to disclose bank loans.

Sen. Elizabeth Warren, D-Mass., is trying to amend an energy bill pending before the Senate to include a provision that would halt Puerto Rico creditor litigation until April 1.

The House is scheduled to hold a voice vote on Monday on a bill that would treat investment grade and actively traded municipal securities as high quality liquid assets under a rule banking regulators adopted in 2014.

Senate Democrats and Independents joined together on Wednesday to call for swift action to write and pass legislation that authorizes debt restructuring for Puerto Rico.

Two Republican state committees that challenged the constitutionality of a Securities and Exchange Commission political contributions rule are insisting the SEC reject a Municipal Securities Rulemaking Board proposal to extend pay-to-play prohibitions to municipal advisors.

A House panel hearing on a federal oversight board for Puerto Rico has been rescheduled to Feb. 2 as a Republican governor is arguing against a Super Chapter 9 solution for the commonwealth but not ruling out bankruptcy protections for the territory's public authorities.

The Association of Financial Guaranty Insurers is urging House and Senate leaders to pursue federal oversight of Puerto Rico but avoid bankruptcy access for the commonwealth.

Dealer and advisor groups want revisions to a Municipal Securities Rulemaking Board proposal to extend pay-to-play prohibitions to non-dealer municipal advisors.

A House committee panel hearing next week on the need for a federal financial oversight authority in Puerto Rico could pave the way for a legislative package to address the territory's problems by the end of March, according to congressional aides and lobbyists.

The Municipal Securities Rulemaking Board plans to discuss bank loans and dealer disclosure of markups to retail customers during its board meeting here next week.

The Municipal Securities Rulemaking Board announced on Tuesday which registered brokers, dealers, and municipal advisors will be required to participate in testing business continuity and disaster recovery plans.