Far West

Underwriters who fail to revamp due diligence and disclosure practices for bond documents in negotiated transactions are vulnerable to enforcement action based on a recent pension case New Jersey settled with the Securities and Exchange Commission, a dealer group said in guidance unveiled last week.

The U.S. Department of Transportation’s TFIA — Transportation Infrastructure Finance and Innovation Act — office is hiring a lead negotiator/financial policy advisor and a financial analyst.

WASHINGTON - The Senate Banking Committee unanimously approved two nominees to the Securities and Exchange Commission Thursday, clearing them for a confirmation vote by the full Senate.

The Senate Environment and Public Works Committee on Thursday voted unanimously to extend federal highway aid for four months to Jan. 31 at current spending levels.

WASHINGTON - State and local government groups have combined forces with dealers, bond lawyers and representatives from energy, education and other sectors to deliver a strong message to the joint congressional deficit-reduction committee: hands off our tax-exempt financing.

Responding to criticism from market participants, the Municipal Securities Rulemaking Board retooled a controversial portion of a proposed rule on broker's brokers, and floated the revised version Thursday for another round of comments.

SAN FRANCISCO - As California emerges from its debt doldrums this month with expected sales of $8 billion of short- and long-term debt, investors are eager for the fresh yield the state will add to a stagnant market.

LOS ANGELES - California's statewide property tax roll rose by 0.3% this year after experiencing two years of declining assessed values, according to a report released by a state agency.

A bankruptcy judge has rejected the Chapter 9 bankruptcy filing of sparsely populated Boise County.

Moody’s Investors Service gave an A2 rating to $296 million of airport refunding bonds that Hawaii plans to sell this month. The savings from the deal is expected to exceed 6%.