Washington DC

Securities and Exchange Commission Chair Jay Clayton seemed noncommittal on a proposed exemptive order for municipal advisors.

Matt Posner started his new role as director of market structure-transparency on Monday.

About 27% of public and private universities will see a decline in net tuition per student in fiscal year 2020.

Though enforcement cases slightly decreased this past year, lawyers say the Securities and Exchange Commission is just as aggressive as ever.

Longtime IRS employee Allyson Belsome will serve as senior manager for the office of Tax Exempt Bonds.

The $1 billion bi-state agreement includes building a wider bridge over the Potomac and adding tolled express lanes.

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.

Clayton described the Secured Overnight Financing Rate known as SOFR, as “a good risk free benchmark.”

Cross, who served as associate tax legislative counsel at the Office of Tax Policy until Friday, said that he resigned in order to be closer to family.

If the proposal is approved, the timing of issuers' annual financial disclosures would be prominently displayed as soon as the beginning of 2020.

Major banks accused of manipulating the variable-rate market are seeking to get the court to toss out the second amended whistleblower complaint filed by municipal advisor Johan Rosenberg.

Iowa accounted for $16 million of the approximately $36.1 million in aggie bonds issued in 2017, according to a recent survey by the Council of Development Finance Agencies.

The changes will slim down underwriters' disclosures to issuers, which many believed had become too lengthy and wordy to be useful.

The number of trades decreased about 16% to 2.01 million from the same quarter in 2018.

Data on default rates shows that while there has been improvement in consistency between corporate and muni ratings, there is still work to be done.

California, Massachusetts and New York came closest to utilizing their volume caps for PABs in 2018, according to a recent survey by the Council of Development Finance Agencies.

“We see some calming of seas,” said Beth Ann Bovino, chief U.S. economist and managing director at S&P Global Ratings, who offered those explanations as part of her latest take on the U.S. economic outlook.

The SEC brought four civil lawsuits and 10 stand-alone administrative proceedings, according to its annual report released Wednesday.

The Financial Industry Regulatory announced the action Wednesday, saying it stemmed from the firms' supervisory failures.

The number of letter rulings fell to four in 2018 when the fee rose to $28,300, from 16 rulings in 2008 when the fee was only $11,500.