Far West

Experts expect a busy enforcement year in the municipal market.

Market participants can expect increased municipal securities enforcement during 2015, a year that may bring resolution of the Securities and Exchange Commission's self-reporting initiative as well as greater emphasis on individual liability and secondary market disclosures.

A lawsuit challenging the Securities and Exchange Commission's investment adviser pay-to-play rule is moving forward in a D.C. federal appeals court, with implications for muni market pay-to-play restrictions hanging in the balance.

Missouri's proposed $2 billion upgrade of I-70 could be funded by tolling the 200-mile link between Kansas City and St. Louis.

Market participants forecast the regulatory agenda

This year will bring more municipal advisor and secondary market transparency regulation, while a newly Republican-controlled Senate could lead Congress to scrutinize and possibly ease existing laws and rules.

California Controller John Chiang called for greater scrutiny of the state's 4,800 special districts in conjunction with the release of an audit of two special districts.

Oregon is planning to sell $412 million of lottery bonds next week to fund development projects throughout the state and refunding outstanding debt.

A ceremonial groundbreaking for California's $68 billion high speed passenger rail project is scheduled in Fresno.

Lack of action on federal transportation funding means growth in states' use of public-private partnerships to build, fund, and operate large projects.