Jack Casey

Dealer, issuer and investment company groups are urging the Securities and Exchange Commission to disapprove a Municipal Securities Rulemaking Board rule that would impose core duties on municipal advisors, warning it is overly burdensome and anti-competitive.

SEC enforcement officials want muni market participants to know that they have 30 people, mostly staff attorneys, in eight offices around the country who have significant expertise in muni issues.

Securities and Exchange Commission officials rejected bond lawyers’ suggestions that the settlements with 36 underwriters under the Municipalities Continuing Disclosure Cooperation initiative contained specific parameters of continuing disclosure violations.

Should industry practices on pricing new bonds change in the wake of the SEC’s enforcement case against Edward Jones?

Suggestions for handling Puerto Rico’s fiscal crisis, including a control board, continue to circulate in Congress as it prepares to resume its session after Labor Day.

The Municipal Securities Rulemaking Board will no longer stick to its Dec. 7 implementation date for its best execution rule, but will instead set the date to fall four months after it releases its guidance on the rule, the self-regulator said Thursday.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve proposed rule changes that would address potential conflicts of interest by limiting the gifts and non-cash benefits that non-dealer municipal advisors can give to issuers and others in connection with their activities.

Arbitration panels ordered UBS Financial Services, Inc. and its subsidiary in Puerto Rico to pay more than $5.44 million to investors in the firm's proprietary closed-end mutual funds that predominantly contained Puerto Rico bonds.

James Albino stepped down as executive director of the President’s Task Force on Puerto Rico Friday to take a deputy assistant secretary position with the Department of Veterans Affairs, an administration spokesperson confirmed.

Kym Arnone, the current chair of the Municipal Securities Rulemaking Board, has left Barclays Capital, according to a company spokesperson.

The National Association of Bond Lawyers has updated its bankruptcy guide for members with new information drawn from the relatively high number of municipal bankruptcy filings in the last few years.

A U.S. district court judge has scheduled a trial for late summer of next year in the Securities and Exchange Commission case against the city of Miami and Michael Boudreaux, the city's former budget director.

Samantha DeZur, the Bond Dealers of America vice president of federal policy and strategic communications, will take a new job as the manager of government relations for Chicago-based CME Group Sept. 14.

Three federal appeals court judges dismissed a challenge Tuesday to the Securities and Exchange Commission's pay-to-play rule for investment advisors that has similarities to the Municipal Securities Rulemaking Board's own pay-to-play rule for broker-dealers.

The National Association of Bond Lawyers released a paper Thursday giving its members tools to help issuer clients develop written disclosure policies and procedures in response to recent Securities and Exchange Commission cases against issuers.

The Investment Company Institute is urging the Municipal Securities Rulemaking Board to give 529 college savings plan underwriters another extension before they will have to file their first data submissions under a recently adopted rule.

The Municipal Securities Rulemaking Board announced changes to its Electronic Municipal Market Access site Tuesday that will allow municipal issuers to show bank loan disclosures in a further effort to promote voluntary disclosure of issuers’ bank loan financings.

Two Citigroup companies agreed to pay $180 million on Monday to settle charges they defrauded investors by misrepresenting that investments in two now-defunct hedge funds were safe, low-risk and suitable for traditional bond investors.

The Municipal Securities Rulemaking Board has proposed several changes to clarify its proposed Rule G-42 on core duties of municipal advisors but declined to ease a controversial provision that would bar an MA giving advice from acting as a principal in the same transaction.

Securities and Exchange Commission members are calling for the adoption of rules requiring broker-dealers to disclose markups and markdowns on municipal securities, warning that if self-regulators do not act, the SEC will propose the rules itself.