Kyle Glazier

The DC Water and Sewer Authority is looking to issue 100-year green bonds for a massive wastewater project.

Dozens of firms have withdrawn their registrations as municipal advisors under the new regulatory regime that takes full effect Tuesday, citing a myriad of reasons for avoiding participation in a new era of muni advising.

Some broker-dealers and some issuers have distorted the truth about the municipal advisor rule, said a former Securities and Exchange Commission lawyer who worked on the new regulatory regime.

The SEC's latest action continues to illustrate the commission's intent to vigorously enforce the muni bond space, securities lawyers said, and might also illustrate why issuers might hesitate to participate in its controversial self-reporting program.

State pension funding levels have probably hit their low point, and can begin a long, slow recovery, according to a new report from Standard & Poor's.

Public officials responsible for the investment of municipal funds will have to keep track of bond proceeds when the muni advisor rule takes effect in less than two weeks, even if compliance is ultimately not their problem, according to experts participating in a California Debt and Investment Advisory Commission webinar Monday.

Securities and Exchange Commission chairman Mary Jo White's public push for bond market transparency initiatives before year's end improves the chances of major changes affecting muni dealers and investors. The road there will not be easy.

The Securities and Exchange Commission has charged a Philadelphia-area private equity firm with violating pay-to-play rules by receiving advisory fees from the city and state pension funds following campaign contributions an associate made to state and local officials. It is the first case brought by the SEC under its pay-to-play rules for investment advisers.

The market for variable rate demand obligations has contracted five of the last six years, the Municipal Securities Rulemaking Board said in a report released Wednesday.

The House Appropriations Committee has unveiled a fiscal year 2015 bill that would fund the Securities and Exchange Commission at $1.4 billion - $50 million above the fiscal year 2014 level and $300 million below President Obama's budget request.

A coalition of state and local groups has written a letter to Securities and Exchange Commission member Daniel Gallagher countering his recent comments about pension obligation disclosure and arguing that any problems in the area are individual and not universal.

The Securities and Exchange Commission's investigation of the Port Authority of New York and New Jersey must determine if investors needed to know about $1.8 billion of controversial spending, securities law experts said. Others said any SEC enforcement action would not be a fix for the authority's problems.

The Securities Industry and Financial Markets Association has sent a letter to numerous federal regulators arguing that the joint venture structure used for the first time last week to sell tender option bonds should be legal under the Volcker rule.

The Port Authority of New York and New Jersey has publicly disclosed that it is under investigation by the Securities and Exchange Commission and other federal and state authorities for diverting $1.8 billion to pay for New Jersey road repair projects, The Bergen Record reported Thursday evening.

Merrill Lynch, Pierce, Fenner & Smith Thursday sold the first tender option bonds structured to comply with the Volcker Rule, a feat Moody's Investors Service said will benefit the market by allowing TOB trusts to continue purchasing munis.

The Bond Dealers of America is urging the Securities and Exchange Commission to limit the scope of its continuing disclosure violation self-reporting program and the participation deadline by more than three months.

State general fund spending is increasing, although it continues to lag behind historical averages and revenue growth remains small in some states, according to a new report from the National Association of State Budget Officers.

The municipal securities market is "fertile ground" for further enforcement initiatives aimed at getting market participants to comply with their obligations under the law, the Securities and Exchange Commission's enforcement director said Wednesday.

Ernesto “Ernie” Lanza is leaving his position as deputy executive director at the Municipal Securities Rulemaking Board to join the Washington office of Greenberg Traurig.

Issuers are disclosing more failures to comply with their continuing disclosure agreements than in past months - a development some market participants said stems from a Securities and Exchange Commission's program encouraging them and their underwriters to self-report instances in which bond documents falsely stated the issuer was in compliance with its CDA.