Washington

Securities and Exchange Commission member Michael Piwowar has asked the staff of the Office of Municipal Securities to give him some proposals that he can push through the SEC to improve price transparency in the municipal market.

The funding level for state-sponsored defined benefit retirement systems increased to 75% in 2013 from 72% the previous year, Wilshire Consulting reported on Wednesday.

President's Obama $3.9 trillion fiscal 2015 budget, released Tuesday, proposed capping the value of the tax exemption for municipal bond interest at 28%, which market participants complain would amount to an unprecedented tax on municipal bonds.

Annual spending on roads and bridges is up to $50 billion short of what is needed to maintain and improve them, U.S. DOT said in report on transportation infrastructure

A proposal to cut the basic allowance for housing for uniformed military personnel would negatively affect the quality of 54 ratings that Moody's Investors Service maintains relating to 24 privatized military housing projects, the rating agency said Monday.

Rep. Dave Camp's proposed tax reform plan would eliminate or modify some of the federal tax code provisions in a way that would discourage nonbank corporations, banks, and property and casualty insurance companies from buying municipal bonds.

Rep. Dave Camp's tax reform proposal would provide some additional revenue stability to the beleaguered island, and the controversial discussion draft is welcomed by the commonwealth's representative in Congress and others working to advance the territory's interests.

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposal to consolidate its multiple registration requirements and forms for municipal securities dealers and municipal advisors.

Standard & Poor's and Fitch Ratings have downgraded a health care system with hospitals in Oregon, Washington, and Alaska, ahead of its $108 million refunding deal.

Sales of municipal bonds in the Far West bucked the national trend in 2013 by rising from 2012, as new money swapped with refundings as the market driver in the region.

The first segment of a new $5.7 billion rail line extension of the Washington Metrorail system to Dulles International Airport needs more work before it can handle passengers, the Metropolitan Washington Airports Authority said Monday.

Public pension plans should not be funded with instruments that bear risk or delay cash funding such as pension obligation bonds, a panel commissioned by the Society of Actuaries warned in a report released Monday

The Securities and Exchange Commission has approved a new rule that will require underwriters of 529 college savings plans to submit more in-depth financial information to the Municipal Securities Rulemaking Board twice a year.

The National Federation of Municipal Analysts will ramp up its education efforts on disclosure this year by publishing guidance on general obligation bonds and new issue disclosure, NFMA chair Susan Dushock said.

Dealer groups are unsure whether the Municipal Securities Rulemaking Board's proposed best execution rule is tailored enough for the municipal market, but are pleased it would exempt sophisticated professionals.

Seven firms have been ordered to pay a total of $68,500 in fines and $16,088 in restitution for municipal trade, disclosure, pricing and supervisory violations, according to the Financial Industry Regulatory Authority's monthly disciplinary actions released Tuesday.

The benefits of stimulus spending on transportation infrastructure during economic downturns outweigh the initial cost, the Transportation Research Board says.

The Treasury Department resumed sales of state and local government series securities on Tuesday at noon, Eastern Standard Time.

Washington voters failed to approve the majority of school bonds on the state's special election ballot, but some lawmakers are working to lower the voter approval threshold.