Washington

Despite economic growth, the majority of public finance sectors still face a negative outlook for the remainder of 2013, according to a new Moody's Investors Service report.

The Financial Industry Regulatory Authority fined a firm $37,500 for trade and books and records violations, and a broker $5,000, giving him a four-month suspension, for telling a customer he redeemed bonds rather than sold them without the customer's permission.

The Internal Revenue Service is requesting public comment on existing rules governing when tax-exempt bond proceeds used for reimbursement of expenditures.

The Municipal Securities Rulemaking Board has published an introductory guide to its Electronic Municipal Market Access, or EMMA, website for state and local issuers of municipal bonds.

Despite his entitlement reform proposals intended to serve as a bargaining chip with Republicans, President Obama's 2014 budget is dead on arrival primarily due to a provision to raise $580 billion in new tax revenues as made clear during two key congressional hearings Thursday.

President Obama's fiscal year 2014 budget again proposed a 28% cap on tax expenditures including municipal bond interest for the top 2% of income earners, despite efforts by muni market participants lobbying against the proposal.

The National Federation of Municipal Analysts said Wednesday they have filed an amicus curiae brief in California Superior Court in support of a lawsuit filed by insurer Syncora Guarantee over laws extinguishing redevelopment agencies in the state.

The Bond Dealers of America have hired Urban Swirski and Associates to advocate for the group's legislative and policy priorities, BDA announced Wednesday.

The Federal Aviation Administration has delayed closing 149 air traffic control towers until June 15, including 14 in Florida — the largest number of facilities affected in one state.

Mary Jo White has been sworn in as the new chair of the Securities and Exchange Commission, the SEC announced Wednesday.

The $1.2 trillion in automatic, across-the-board spending cuts that went into effect in March will have a low to moderate impact on public finance housing bond issuers, a new Moody's Investor Service report said Tuesday.

Contracts between dealer firms and public officials show that dealers are engaging in wordplay in an apparent attempt to avoid duties and restrictions placed on them by both federal statute and MSRB rulemaking.

Pensions are expected to pose a continued, and in some cases, rising source of budgetary pressure for local governments, a new Fitch Ratings report found.

Former U.S. Attorney Mary Jo White was unanimously confirmed by the Senate on Monday to serve as chairman of the Securities and Exchange Commission.

The IRS is auditing $10.24M of bonds issued by the town of Castle Rock, Colo., in 2008.

The Municipal Securities Rulemaking Board will hold an on-the-record briefing about municipal securities at a National Press Club luncheon on May 8 to attempt to educate a wider audience of journalists about the municipal market.

A new study released by the Federal Railroad Administration lays out numerous diverse options for high-speed rail investment in the nation's heavily-populated Northeast corridor.

The number and scope of investment projects will decrease for state and local governments if a federal limit is placed on tax-exemption for municipal bonds, the National League of Cities warned in a survey released Thursday.

Rep. Maxine Waters, D-Calif., has introduced legislation that would make $1 billion available for federal transportation grants.

The Virginia Port Authority's decision not to pursue a public-private partnership could have a negative impact on other potential port privatization deals, according to a new report from Fitch Ratings.