Sarah Wynn

Securities lawyers and the trade group for municipal advisors agree unregistered muni advisors shouldn't still be ignorant of the law.

Irene Carroll and her company, Funding the Gap LLC, settled with the SEC Friday for not registering as municipal advisors. The SEC said Caroll knew she provided similar services as an MA.

The Municipal Securities Rulemaking Board's David Hodapp said an MA's fiduciary duty to an issuer trumps fair dealing obligations to investors.

From June to July, not many municipal advisors relied on the SEC's temporary exemption and some sources say they don't expect it to be heavily used.

Eliseo Sampayo was fined $20,000, half of which will go to the Municipal Securities Rulemaking Board for violating its rules.

Rep. Rashida Tlaib, D-Mich., said the Municipal Liquidity Facility is not flexible enough for states and local governments.

The settlement in which Roosevelt & Cross, Inc. agreed to pay $1 million is part of a now more than two-year crackdown on "flipping" arrangements.

During a Congressional Oversight Commission hearing, the Fed's Kent Hiteshew said the MLF is working as is, despite having made loans to only two issuers.

Kelly Mitchell wants to solidify existing NAST initiatives in the coming year, such as expanding 529 college savings plans.

Former Rep. Joe Crowley, D- NY., said fellow Democrats need to get on board with using public-private partnerships as a way to pay for infrastructure.