Kyle Glazier is the Washington Bureau Chief of The Bond Buyer. He has previously covered securities law, the Far West, and markets. He has previously written for the Houston Chronicle, Albany Times-Union, and The Denver Post. He holds a bachelor’s degree in English from Arizona State University and a master’s degree in journalism from the University of Colorado.
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The number of municipal bond issuers rated as "speculative" by Moody's Investors Service has grown by 27% since 2008 and will likely grow further but remain a small part of the market, the rating agency said in its annual report on junk bond issuers.
December 3 -
Three former bankers at GE Funding Capital Market Services, Inc., convicted of fraud and conspiracy for rigging municipal bond investment bids are out of prison following a Nov. 26 decision by the U.S. Court of Appeals for the Second Circuit overturning their guilty verdicts.
December 2 -
The sentencing for convicted bid rigger David Rubin, currently scheduled for Dec. 17, may be delayed until January at the request of his defense team.
November 27 -
The Securities and Exchange Commission has charged Detroit-based Ambassador Capital Management and portfolio manager Derek Oglesby with fraud for investing in risky securities and passing them off to investors, including municipalities, as safe money market funds.
November 26 -
Unfunded healthcare liabilities for retired state employees declined a bit since 2011, a new Standard and Poor's report shows, but more management is needed to protect state credits going forward.
November 25 -
The National Association of Independent Public Finance Advisors has sent an open letter to Securities and Exchange Commission chairman Mary Jo White insisting the municipal advisor rule the SEC adopted in September will not restrict the flow of information between issuers and other parties to a bond deal.
November 22 -
The National Association of Bond Lawyers may consider creating guidance on how attorneys can reasonably rely on tax certificates, following the false certifications market professionals provided for deals involving investment contracts that came to light in criminal bid-rigging cases.
November 21 - Washington
A federal interagency task force, created to advise the Puerto Rican government on fiscal and economic matters, will meet with Puerto Rican officials next month, but will not provide any additional financial assistance, knowledgeable sources said.
November 20 -
The Municipal Securities Rulemaking Board has issued new educational materials for issuers explaining what information dealers should make public about their contributions to campaigns to get voters to approve bond offerings.
November 20 -
The Financial Industry Regulatory Authority fined five firms $255,500 and fined and suspended an individual for violations of municipal securities rules.
November 15 -
The Securities Industry and Financial Markets Association is considering launching a campaign urging municipal issuers to lobby federal regulators and lawmakers against underwriter restrictions contained in the Securities and Exchange Commissions final municipal advisor registration rule.
November 14 -
Dealers want to extend the implementation of the Municipal Securities Rulemaking Board's suitability rules and lengthen the time they have to disclose purchases of municipal bonds. They also want it made clear that a broker-dealer has reduced duties to sophisticated municipal market professionals.
November 14 -
Issuers can take advantage of the independent municipal advisor exemption in order to get the advice of underwriters and other professionals who would otherwise be unable to offer it, according to a paper the Government Finance Officers Association has published about the Securities and Exchange Commission's final MA registration rule.
November 13 -
The American Bankers Association has issued guidance designed to help members determine if they need to register as municipal advisors under the Securities and Exchange Commission's registration rule.
November 12 -
WASHINGTON The Securities and Exchange Commission filed motions arguing it met the burden of proof necessary to move forward with securities fraud allegations against Miami and its former budget director.
November 11 -
The Securities and Exchange Commission's municipal advisor registration rule will appear in the Federal Register Nov. 12, starting the 60-day countdown until it becomes effective Jan. 13.
November 11 -
The Securities and Exchange Commission Friday announced that LeeAnn Gaunt will lead its enforcement division's municipal securities and public pensions unit, replacing Elaine Greenberg, who left to join a law firm.
November 8 -
The SEC's enforcement action against participants in the Regional Events Center Public Facilities District's arena deal shows that the commission will not shy from seeking financial penalties against municipal issuers and transaction participants, market participants said.
November 7 -
Securities and Exchange Commission chairman Mary Jo White said Wednesday that a 2012 risk alert on whether underwriters are doing enough to ensure the accuracy of offering documents is an example of how behind-the-scenes SEC action protects investors.
November 6 -
Leaders of the Senate Environment and Public Works Committee chairman Barbara Boxer, D-Calif., have appointed six senators to join them on the conference committee that will reconcile two versions of water legislation, one of which contains a public-private partnership pilot program.
November 5
