Washington

The Financial Industry Regulatory Authority fined five firms $255,500 and fined and suspended an individual for violations of municipal securities rules.

States are no longer waiting for the federal government when it comes to trying to drum up new revenue for transportation infrastructure, said Victor Mendez, administrator, Federal Highway Administration, Friday morning at the Bond Buyer's Transportation Finance/P3 conference here.

Action by Congress to eliminate both the tax exemption for municipal bonds and the state and local tax deduction would cause the loss of $71 billion or 0.35% of total gross domestic product and about 417,000 jobs or 0.28% of total employment over the next decade, two government groups said Thursday.

Municipal borrowers looking to expedite the process to tap the Transportation Infrastructure Finance and Innovation Act program for project loans should bring a thorough financing package to the table and be flexible in negotiating terms, loan recipients offered up as advice Thursday.

Issuers can take advantage of the independent municipal advisor exemption in order to get the advice of underwriters and other professionals who would otherwise be unable to offer it, according to a paper the Government Finance Officers Association has published about the Securities and Exchange Commission's final MA registration rule.

American Airlines and US Airways Group Inc. settled an antitrust lawsuit with the U.S. Department of Justice, clearing American's path to exit bankruptcy and repay its municipal bondholders.

Washington, D.C., and Detroit have the strongest funded pension plans, with Chicago the weakest, Morningstar Inc. said in a research report.

The Securities and Exchange Commission's municipal advisor registration rule will appear in the Federal Register Nov. 12, starting the 60-day countdown until it becomes effective Jan. 13.

The Internal Revenue Service has closed an audit of about $171 million of bonds issued by the East Baton Rouge, La. Sewerage Commission in 2006 without changing the bonds' tax-exempt status.

In a faltering economic environment where philanthropy often falls short, museums and memorials are looking to innovative bond structures and star-studded fundraising campaigns to finance their projects.

Natwar Gandhi, the District of Columbia's chief financial officer, says that while it's time to retire from his post, he would have liked to have explored the idea of a public-private partnership to fund the district's infrastructure needs and find a way to help the poor given the city's narrow tax base.

An agreement on funding new and renewed transportation infrastructure could be the basis of a bipartisan budget deal, President Barack Obama said Friday at the Port of New Orleans in south Louisiana.

The Securities and Exchange Commission Friday announced that LeeAnn Gaunt will lead its enforcement division's municipal securities and public pensions unit, replacing Elaine Greenberg, who left to join a law firm.

The SEC's enforcement action against participants in the Regional Events Center Public Facilities District's arena deal shows that the commission will not shy from seeking financial penalties against municipal issuers and transaction participants, market participants said.

Jefferson County, Ala.'s bankruptcy plan will eliminate dozens of suits, restructure debt, and offer the sewer system "a fresh start," court documents said.

The Maryland Transit Administration plans to seek bids soon for a private partner willing to provide up to $900 million of funding for a $2.2 billion light-rail line in the northern suburbs of Washington following Gov. Martin O'Malley's and the state Board of Public Works' unanimous approval of the P3 competitive solicitation process.

Texas voters approved a $2 billion water bond program Tuesday in the largest of many bond related issues voters decided in the off-year.

Securities and Exchange Commission chairman Mary Jo White said Wednesday that a 2012 risk alert on whether underwriters are doing enough to ensure the accuracy of offering documents is an example of how behind-the-scenes SEC action protects investors.

The Greater Wenatchee, Wash., Regional Events Center Public Facilities District has agreed to pay $20,000 — the first financial penalty the SEC has assessed against a municipal bond issuer — to settle Securities and Exchange Commission charges that it misled investors of bonds used to finance the construction of an events center and ice hockey arena.

The Municipal Securities Rulemaking Board announced Monday that it has begun a multi-year campaign to expand outreach to state and local issuers, emphasizing how they can use the MSRB's EMMA website for disclosure compliance and education.