Far West

ALAMEDA, Calif. — Seeing an environment favorable to smaller firms, San Francisco-based Nollenberger Capital Partners Inc. last week announced the hiring of two California municipal market veterans in what the firm described as a “re-launch” of its public finance unit.

WASHINGTON — Last month, the Oklahoma fire marshal’s office cut staff again, dropping its headcount to 27 workers from 34 at full capacity four years ago, as another round of spending cuts was imposed.

WASHINGTON — The Financial Industry Regulatory Authority is preparing to take enforcement action against certain firms for selling municipal bonds to retail customers without disclosing material information, including that the bonds’ credit ratings had been spiraling downward, a FINRA official said Thursday.

ALAMEDA, Calif. — California’s plans for a bond-financed high-speed passenger train system are in critics’ crosshairs following the release last week of a critical report by the state ­auditor.

ALAMEDA, Calif. — California Treasurer Bill Lockyer has sent another round of questions to six large investment banks about their involvement in credit default swaps linked to California bonds.

SANTA ANA PUEBLO, N.M. — Even as the major municipal market groups have pledged to work to improve continuing-disclosure practices, voluntary improvements to their timeliness and quality remains elusive after years of debate, some analysts say.

WASHINGTON — Utilities and energy companies are urging federal lawmakers to remove a provision of the financial regulatory reform bill that would impose a fiduciary duty on swap dealers engaging in transactions with state and local governments and require them to put the governments’ interest before their own.

In what could be a first of it’s kind action in the municipal bond market, the Internal Revenue Service has suspended tax-exempt bond attorney Michael W. McCall for at least 24 months from practicing before it for writing a false tax opinion.

Airport executives are accusing airlines of being hypocritical, claiming they are arguing against airports increasing passenger facility charges while collecting increased revenue from fees for baggage and other amenities.

WASHINGTON — The Federal Transit Administration has launched a $775 million grant program to help local and state governments finance capital projects involving buses and bus facilities. The allocations will be announced in September.