Washington DC

An SEC advisory committee recommended allowing investment advisers affiliated with broker-dealers to offer and sell negotiated new issue muni bonds during the order period that the dealer also participates in.

The Financial Industry Regulatory Authority released its annual Risk Monitoring and Examinations Priorities letter Thursday.

Dealer groups want the SEC to examine broker-dealers and municipal advisors equally.

The Financial Accounting Foundation abandoned its tradition of selecting a state auditor to chair the Governmental Accounting Standards Board.

Some smaller firms are deciding to qualify more than half of their municipal advisor principals as a sort of backup plan.

The challenge this year will be biggest in the three states that were found by the Council of Development Finance Agencies to be closest to using their 2018 limits — California, New York and Massachusetts.

Deborah Goldberg succeeds Utah State Treasurer David Damschen as president of the National Association of State Treasurers.

The Securities and Exchange Commission plans to focus on protecting Main Street investors in municipal bonds.

The investigation appears to be linked to the supervision of Deborah Kelley, a broker who was convicted and sanctioned for bribing a state pension fund officer.

GASB’s final guidance on the Replacement of Interbank Offered Rates is expected to be issued in March, giving state and municipal governments plenty of time to make adjustments before Libor is phased out by the end of 2021.

As surface transportation funding is set to expire later in 2020, a new reauthorization could help push muni bond initiatives next year.

The new alternative reference rates cited by Treasury and the IRS include the Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York and the Federal Funds Rate.

Events at the SEC are likely to create a number of important MSRB rule changes in the coming year.

The orders issued Dec. 23 bring to a close the Securities and Exchange Commission enforcement action against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.

The U.S. Department of Transportation reasonably determined the Florida’s passenger train owners were qualified to receive private activity bond financing.

Another round of tax legislation is not expected to emerge until the very end of the year after the presidential election or in 2021 after a new Congress is sworn in.

In response to the SEC's complaint, the former chief business officer of a California school district said he acted in good faith.

The Municipal Securities Rulemaking Board will require more data starting Nov. 30, 2020.

Executive search firm Spencer Stuart has been calling industry leaders asking for feedback on the organization.

The legislation, which would make tax-exempt municipal bonds more attractive for high-income income retail customers, has no chance of becoming law.