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The Securities and Exchange Commission has accused the former manager of two Schroders Investment Management municipal bond mutual funds of tipping his family members about impending distress to the funds and urging them to sell their shares.
May 14 -
WASHINGTON — Reliance on volatile sources of tax revenue that swing in boom-and-bust cycles led to budget woes most states are currently facing, according to a new report published by the Tax Foundation.
May 13 - Washington
WASHINGTON — The Securities and Exchange Commission announced yesterday that it has promoted Gerald Hodgkins to become an associate director in its division of enforcement.
May 13 - California
ALAMEDA, Calif. — What’s that sound you hear? Probably California’s budget problems hitting the fan again.
May 13
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WASHINGTON — A bond provision in a recently unveiled climate change bill appears to be broader than intended and would allow electric cooperatives and potentially the federal government to serve as conduit borrowers on tax-exempt and Build America Bond deals.
May 13 -
WASHINGTON — State and local officials yesterday urged members of a House Ways and Means Committee panel to create and capitalize a national infrastructure bank, but neither they nor the lawmakers could agree on how to finance or structure the bank.
May 13 - Washington
Two senators last night unveiled a bill that would make the $30 million small-issuer limit for bank-qualified bonds permanent and index it to inflation.
May 13 -
WASHINGTON — Energy and climate change legislation unveiled yesterday in the Senate would create a $3 billion tax-credit bond program for vehicles powered by natural gas, allow private-activity bond financing for advanced nuclear power facilities, expand a nuclear loan guarantee program, and provide $2 billion of competitive grants for transportation projects.
May 12 -
WASHINGTON — The Metropolitan Washington Airports Authority has temporarily suspended a $650 million deal for its Metrorail extension project, citing market volatility. However, the delay will not affect construction, authority officials said.
May 12 -
GE Funding Capital Market Services Inc., a subsidiary of General Electric Capital Corp., does not agree with the Securities and Exchange Commission’s plans to file charges against it in connection with an industry-wide investigation of guaranteed investment contracts and derivatives, but is discussing the matter, including a “potential resolution,” with SEC staff.
May 12
