Washington

The Securities Industry and Financial Markets Association is seeking a legislative fix to the municipal advisor rule so that it is less burdensome for bank and broker-dealer firms, executives of a broker-dealer group said Thursday.

The House on Wednesday passed a bill that would extend through the end of the year expired tax provisions known as "extenders," several of which relate to bonds, state and local taxes and Puerto Rico.

Total tax-exempt and taxable municipal bond issuance in 2015 is expected to edge up to $357.5 billion, an increase of more than 2.7% from the $348.1 billion forecast for this year, according to respondents of an industry survey.

Securities and Exchange Commission member Daniel Gallagher wants more action on pension accounting and more staff devoted to the municipal market.

The Internal Revenue Service is auditing bonds issued by the East Bay Municipal Utility District in 2003 and 2005.

The Municipal Securities Rulemaking Board and Financial Industry Regulatory Authority will host a joint educational webinar on rule proposals that would require dealers acting as principals to disclose to customers on their confirmations a "reference price" of the same security traded that same day.

Prince George's County, Md., signed 30-year P3 pact with Corvias for management of storm water runoff into Chesapeake Bay.

The International Municipal Lawyers Association has filed a friend of the court brief asking a federal appeals court to reconsider its decision to disregard a qualified immunity defense for Miami, Fla.'s former budget director, warning that allowing the Securities and Exchange Commission lawsuit against him to go forward would negatively affect municipalities everywhere.

Northern Virginia Transportation Authority will sell $69 million of revenue bonds to finance regional transportation infrastructure.

The Securities and Exchange Commission has unanimously approved new rules to require self-regulatory organizations and alternative trading systems to strengthen their defenses against technological failures.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve the MSRB's proposal to create baseline standards of professional qualification for municipal advisors.

State and local government groups are urging the House to pass the online sales tax legislation called the Marketplace Fairness Act, after a spokesman for House Speaker John Boehner said the Ohio Republican has problems with the bill and has no intention of moving it forward this year.

Many issuers mulling whether to self-report disclosure violations under a Securities and Exchange Commission initiative will probably weigh their decisions right down to the deadline, and will not see any further guidance from the SEC, a muni law expert told market participants Tuesday.

The Financial Industry Regulatory Authority has fined three firms $32,500 and expelled another from FINRA membership for violations of municipal securities rules governing pricing, transaction reporting, record keeping, and supervision.

Virginia Transportation Secretary Aubrey Layne says new P3 rules remove the mystery from the selection process.

The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.

A municipal market research firm is urging the Securities and Exchange Commission to conduct a review of its municipal bond disclosure rules to address what it warns are "glaring gaps" in market practices.

The Metropolitan Washington Airports Authority approves a $1 billion capital construction program at Reagan National Airport.

The Internal Revenue Service is auditing bonds issued in 2006 by the Orange County Health Facilities Authority in Florida for Orlando Regional Healthcare System, now Orlando Health Inc.