Kyle Glazier

States that pull back on their cost-cutting measures in response to improving economic conditions could harm their credit, but local governments are in good shape thanks to a housing market recovery, according to a new report from Standard & Poor's.

The Securities Industry and Financial Markets Association has released model documents designed to help its members comply with the municipal advisor registration rule, which takes effect on July 1.

Twenty-two U.S. senators are urging Securities and Exchange Commission Chairman Mary Jo White to make sure municipal money market funds are exempted from proposed reforms, warning they will hurt state and local governments.

Three convicted bid-riggers filed documents with a federal appeals court this week arguing that their convictions should be overturned because of several errors by the lower court.

Two lawyers in the Securities and Exchange Commission's Office of Municipal Securities have been promoted, the SEC announced Wednesday.

Small financial advisory firms face the most challenges adapting to the new rules and regulations governing municipal advisors, with some predicting that many of the smallest MAs will go out of business.

A new study projects that Puerto Rico could receive billions of additional federal dollars if it became a state, information that some observers said could inject new life into the statehood debate on the financially troubled island.

Securities and Exchange Commission municipal securities chief John Cross on Friday tried to allay the fears of bond lawyers, who continue to have many technical questions about the SEC's new municipal advisor rule.

The Securities and Exchange Commission's new program to encourage self-reporting of a specific continuing disclosure violation is facing some skepticism from bond lawyers even as one SEC attorney said it may eventually be expanded to cover other violations.

Non-dealer financial advisors are warning the Municipal Securities Rulemaking Board's proposed new best execution rule may conflict with the MSRB’s existing fair-dealing rule. Both they and dealers are seeking clarifications on what the rule would require dealers to do.

The Government Finance Officers Association has adopted revised best practices to adjust for municipal advisor regulation that takes effect July 1.

The sentencing dates for convicted bid riggers Brian Zwerner, Douglas Goldberg, and Daniel Naeh have been delayed again.

Attorneys opposed to new municipal advisor regulation warned state treasurers this week that the new regime will end productive relationships with investment bankers and hurt issuers financially.

Regulatory officials are urging state treasurers to take the lead on helping municipalities understand disclosure compliance, as well as remaining engaged on developing municipal advisor rulemaking and guidance.

The Municipal Securities Rulemaking Board on Monday proposed to amend its rule on professional qualifications to cover municipal advisors and require them to take a test as soon as next year.

The Financial Industry Regulatory has a growing list of arbitration claims related to Puerto Rico bonds on its plate as investors seek damages for what they claim was misleading advice about bond funds.

Dealer groups are happy that the Municipal Securities Rulemaking Board has exempted sophisticated municipal market professionals from its proposed best execution rule, but would like more guidance and economic analysis going forward.

The Municipal Securities Rulemaking Board has received approval from the Securities and Exchange Commission to consolidate interpretive guidance on dealers' time-of-trade disclosure obligations into three new rules and amendments to an existing rule.

The Securities Industry and Financial Markets Association is urging the Securities and Exchange Commission not to approve the Municipal Securities Rulemaking Board's proposed fair-pricing rule, arguing it is too intertwined with another pending rule.

A federal judge has ordered seven defendants to disgorge millions in ill-gotten gains and imposed other administrative penalties stemming from a pay-to-play case involving the New York State Common Retirement Fund.