Washington

A federal court judge has approved Miami's $1 million settlement with the Securities and Exchange Commission over charges the city acted fraudulently in taking steps to hide its deteriorating financial condition from bondholders.

The Treasury Department and Internal Revenue Service may rethink and re-propose controversial political subdivision rules, but will wait until next year to see what the next administration wants to do with them, a tax regulator told lawyers meeting in Chicago.

While the Securities and Exchange Commission remains silent on whether there will be more settlements under its continuing disclosure enforcement initiative, an SEC official said any party that voluntarily submitted potential violations will be told whether the commission plans to take action against them.

The Internal Revenue Service's Office of Tax-Exempt Bonds has told its auditors that, if an issuer redeems 100% of the outstanding principal amount of its tax-exempt or tax-credit bonds, the audit can be closed without further TEB action.

Virginia road planners will evaluate local requests for $9 billion of state funding.

The former head of the Internal Revenue Service's tax-exempt bond office says TEB is ignoring alleged violations on a financing for a Syracuse mall that benefited from breaks sought by Hillary Clinton.

Gloria Papiez will become acting director of the Washington State Department of Financial Institutions, the state's primary financial regulator, on Nov. 1.

Transit advocates see Baltimore's proposed Red Line as key part of multi-state rail link.

The Municipal Securities Rulemaking Board must now have at least one municipal advisor representative board member present to constitute a quorum under a rule change it filed with the Securities and Exchange Commission on Friday.

The Securities and Exchange Commission voted unanimously on Thursday to finalize new open-end fund liquidity requirements that market participants said would hurt the industry by damaging the funds' appetites for munis.