Far West

WASHINGTON — The Internal Revenue Service’s tax-exempt bond office this fiscal year plans to close 1,200 examinations — more than double its all time high of 581, its director says.

WASHINGTON — An amendment to financial regulatory reform legislation that would impose a broad fiduciary duty on financial services firms when they give advice and recommendations to public entities and pension funds is pitting dealers against advisers in the municipal market.

ALAMEDA, Calif. — A California appeals court has denied a bid by redevelopment advocates for a temporary stay to block implementation of a recent court ruling that allows the state to shift more than $2 billion from local redevelopment agencies to help balance the state budget.

WASHINGTON — The Securities and Exchange Commission is launching a nationwide inquiry into the municipal market that will lead to recommendations for specific statutory and regulatory changes to better protect investors, an SEC official said at the Investment Company Institute general membership meeting here Friday.

WASHINGTON — The Securities and Exchange Commission is launching a nationwide inquiry into the municipal market that will lead to recommendations for specific statutory and regulatory changes to better protect investors, an SEC official said at the Investment Company Institute general membership meeting here Friday.

SANTA ANA PUEBLO, N.M. — Two senators plan to introduce legislation as soon as today to permanently extend a popular provision in last year’s stimulus law that was designed to encourage banks to buy municipal debt from small issuers but would expire at the end of the year without congressional action.

The House Ways and Means Committee’s select revenue measures panel will hold a hearing Thursday on proposals to create an infrastructure bank.

WASHINGTON — Citing market turbulence, the Metropolitan Washington Airports Authority said late Friday it would delay its second deal to finance construction of a Metrorail extension that will ultimately link downtown Washington, D.C., with Washington Dulles International Airport.

The Internal Revenue Service has found that the vast majority of colleges and universities have endowment funds invested in a wide range of securities.

SANTA ANA PUEBLO, N.M. — The National Federation of Municipal Analysts presented awards to the Municipal Securities Rulemaking Board and five individuals last week, including Wisconsin state capital finance director Frank Hoadley and B.C. Ziegler & Co. director of research Ed Merrigan, during its annual conference here.