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WASHINGTON — California and Florida are the biggest winners of high-speed rail grants, securing $1.7 billion out of a total of $2.5 billion to help close funding gaps for ambitious rail projects that have already received large federal grants.
October 26 - Washington
The Municipal Securities Rulemaking Board on Tuesday filed a proposal with the Securities and Exchange Commission to revise the Municipal Securities Representative Qualification Examination known as the Series 52.
October 26 -
The National Association of Bond Lawyers announced Tuesday that it has hired Linda Holtz Wyman as its chief operating officer.
October 26 - Washington
WASHINGTON — Three hours after Standard & Poor’s announced that it had downgraded Assured Guaranty Ltd.’s two insurer platforms to AA-plus from AAA, 84 material-event notices had been filed with the Municipal Securities Rulemaking Board’s online EMMA system disclosing 181 bond issues affected by the rating downgrades.
October 25 -
WASHINGTON — The Metropolitan Water Reclamation District of Greater Chicago has disclosed that the Internal Revenue Service is examining $600 million of Build America Bonds it issued in August 2009 — the second IRS audit of BABs announced in less than a week.
October 25 -
WASHINGTON — The Municipal Securities Rulemaking Board plans to soon file rule changes with the Securities and Exchange Commission that would eliminate the current practice of allowing a dealer-financial adviser to resign as FA and then underwrite the same muni securities transaction.
October 25 - California
ALAMEDA, Calif. — The California treasurer’s office is firming up details for a temporary cash-flow loan it expects to close next week, allowing the state to resume paying tax refunds and catch up on payments due to local agencies.
October 25 -
WASHINGTON — Securities and Exchange Commission proposals to require issuers to provide investors with more information about loans underlying asset-backed securities would apply to municipal bonds and could have far-reaching effects on the muni market, several lawyers said last week.
October 24 -
The Internal Revenue Service is kicking off the first round of audits of Build America Bonds and is asking issuers if any potentially related entities, such as pension plans, are buying their BABs, according to issuers and IRS officials.
October 24 -
WASHINGTON — Market participants are pushing back against attempts by Standard & Poor’s to rate municipal bond deals on the condition that the issuer agrees to accept both greater liability if the rating turns out to be faulty and an ongoing obligation to inform it of any material change to any information provided to the agency.
October 24
