Far West

San Jose Mayor Chuck Reed, and four other California city mayors, filed papers Tuesday with the California Attorney General's office in the first step toward qualifying a statewide public pension reform measure for the November 2014 ballot.

The Securities and Exchange Commission's Office of Municipal Securities will gain another attorney next month when Goldman Sachs' Edward Fierro comes aboard Nov. 4.

Moody's Investors Service changed the outlook Tuesday on debt issued for Stockton, Calif.'s two Mello-Roos districts to stable from developing and affirmed the underlying Baa2 ratings on the two series rated by the agency.

The Financial Industry Regulatory Authority has fined three firms a total $115,000, and ordered two of them to pay $35,441 of restitution to customers, for violating municipal securities fair pricing, fair dealing and primary offering disclosure rules.

Broker-dealer firms can do more to manage conflicts of interest in their businesses, including by taking steps to deal more transparently with retail investors, according to a report published by the Financial Industry Regulatory Authority.

Moody's Investors Service downgraded bankrupt Stockton, Calif.'s pension obligation bonds to Ca from Caa3 and changed the outlook to negative from developing.

Roseville Finance Authority in California received an A-plus rating and stable outlook from Fitch Ratings ahead of plans on Oct. 17 to price $74.5 million in electric system revenue refunding bonds.

Los Angeles Unified School district officials are slated to present a five-year budget plan to the school board and bond oversight committee at separate meetings at the end of this month that should flesh out $1 billion plans to purchase iPads for every student.

San Diego's proposed $520 million convention center expansion cleared its final regulatory hurdle when it was unanimously approved by the California Coastal Commission.

Regulators warned brokers at a Bond Dealers of America conference not to play loose with municipal securities rules, and asked them to report competitors they suspect.