Far West

WASHINGTON — A muni market research group is urging Congress to require the Municipal Securities Rulemaking Board to tag issuers that fail to comply with their secondary-market disclosure agreements and then force dealers to take the flagged muni securities into account when trading.

SAN FRANCISCO — California Gov. Jerry Brown’s plan to cut bond sales as part of his new budget will stretch an already tight market for the state’s debt.

WASHINGTON — President Obama has nominated Luis Aguilar to a second term at the Securities and Exchange Commission and WilmerHale partner Daniel Gallagher to replace Kathleen Casey, whose term as SEC commissioner expires in July.

WASHINGTON — Loudoun County, Va., is looking at the possible impact of withdrawing its funding for the Washington, D.C., Metrorail extension to Dulles International Airport.

WASHINGTON — The Securities and Exchange Commission approved proposed rules Wednesday that would bolster the transparency of credit ratings and beef up oversight of rating agencies.

Uncertainty about federal highway funding is causing some states to turn from Garvee bonds to alternative financings, such as toll-backed debt and public-private partnerships, but issuers should be aware of the risks involved, Fitch Ratings warned Wednesday.

Sen. Jeff Bingaman, D-N.M., has introduced a bill that would raise the small-issuer limit for bank-qualified bonds to $30 million from $10 million — legislation that is drawing strong support from issuer and muni market groups.

WASHINGTON — Among some issuers of municipal bonds, the Securities and Exchange Commission’s Elisse Walter is known for one speech, and one speech only.

Top Republican on the Senate Finance Committee showed support for Democratic Sen. Ron Wyden’s transportation tax-credit bond proposal Tuesday, indicating for the first time that the GOP may back the taxable bonds if they don’t add to federal spending.

SAN FRANCISCO — Southern California’s San Joaquin Hills toll road has gotten a green light from bondholders to restructure $2 billion of debt that helps avoid a default.